CIO Newsletter

May 2022

First Quarter CIO Update

The financial markets have been volatile in 2022, following three consecutive years which provided strong, positive returns in most diversified portfolios. Even with the pandemic drawdown/recession, the markets did very well through that period.
In the history of the financial markets, drawdowns have happened regularly, and are the price (risk) that investors accept in exchange for the potential of attractive returns on their investments over time. Even knowing this, a market decline can feel particularly unpleasant after an extended period of positive returns such as were experienced in 2019, 2020, and 2021.

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