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What’s on our mind?  You can read about it in our blog.  Here's where we post our quarterly review, portfolio company insight memos, comments on market developments, and our thoughts about personal wealth management.  Once in a while, we may throw in some music or other surprise.  So keep checking in. We’re glad to have you as a member of our community.

Monday, October 25, 2021

Stocks rallied last week on a stream of positive corporate earnings surprises.The Dow Jones Industrial Average rose 1.08%, while the Standard & Poor’s 500 advanced 1.64%. The Nasdaq Composite index gained 1.29% for the week....

Friday, October 22, 2021

Visa began in 1958 (then known as Bank Americard) when Bank of America sent thousands of credit cards unsolicited to households in Fresno. At the time, households had an inconvenient amount of credit cards from different merchants, so...

Monday, October 18, 2021

A strong opening to the third-quarter earnings season sparked a late week, broad-based rally that helped stocks finish the week with solid gains.The Dow Jones Industrial Average rose 1.58%, while the Standard & Poor’s 500...

Friday, October 15, 2021

Air Products, a core GPM Grade holding, announced a new clean energy project in Louisiana. Air Products is investing $4.5 billion to build, own, and operate the world's largest blue hydrogen facility, expected to capture over five...

Monday, October 11, 2021

The overhang of bumping against the federal debt ceiling was lifted last week with an agreement to extend the debt ceiling through early December, helping propel stocks to a weekly gain.The Dow Jones Industrial Average increased by 1...

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Tuesday, October 5, 2021

Stocks stumbled in September. Q3 ended mostly lower. The rise in COVID infection rates dampened broader optimism. Economic demand seems solid, but supply chains remain variably hampered. Bonds lost ground.

Monday, October 4, 2021

Higher bond yields and a legislative stalemate in Washington, D.C., added up to losses for the week.The Dow Jones Industrial Average declined 1.36%, while the Standard & Poor’s 500 lost 2.21%. The Nasdaq Composite index fell...

Sunday, October 3, 2021

Stocks stumbled in September. Q3 ended mostly lower. The rise in COVID infection rates dampened broader optimism. Economic demand seems solid, but supply chains remain variably hampered. Bonds lost ground.

Wednesday, September 29, 2021

AutoZone is a leading retailer and distributor of automotive replacement parts and accessories with over 6,700 store locations in the US, Mexico, and Brazil. Locations are made up of typical satellite retail stores, hubs, and...

Monday, September 27, 2021

Stocks prices were whipsawed last week, dragged initially lower by financial contagion worries and later lifted by a supportive Fed policy statement.The Dow Jones Industrial Average gained 0.62%, while the Standard & Poor’s...

Monday, September 20, 2021

Stocks weakened ahead of this week’s Federal Reserve meeting and amid persistent concerns about the Delta variant’s impact on the economy.The Dow Jones Industrial Average was flat (-0.07%), while the Standard &...

Wednesday, September 15, 2021

Apple is the largest company in the world with a market cap of $2.5 trillion. The numbers are incredible: in the last twelve months, Apple had revenue of $347 billion, gross profit of $142 billion, and $95 billion of free cash flow. In...

Monday, September 13, 2021

In a quiet week of news, stocks moved lower amid simmering concerns over the Delta variant’s effect on the progress of economic reopening.The Dow Jones Industrial Average declined 2.15%, while the Standard & Poor’s 500...

Wednesday, September 8, 2021

GPM recently posted an updated Open Stock holdings and metrics document, which can be seen here. You may notice quite a few of the companies listed, including our largest holdings Microsoft, Google, and Apple. GPM's approach to...

Tuesday, September 7, 2021

Stocks were mixed last week amid conflicting economic data and continued spread of Delta variant infections.The Dow Jones Industrial Average slipped 0.24% during the five trading days. But the Standard & Poor’s 500 tacked on...

Monday, August 30, 2021

The stock market powered to record levels last week amid talk of Fed tapering and a deceleration in new Delta variant cases.The Dow Jones Industrial Average gained 0.96%, while the Standard & Poor’s 500 increased 1.52%. The...

Wednesday, August 25, 2021

HEICO (Ticker: HEI/A) is a leading aftermarket supplier of parts for the aviation industry. The company is led by CEO Larry Mendelson, Co-President Eric Mendelson, and Co-President Victor Mendelson. Larry has been CEO of HEICO since...

Monday, August 23, 2021

Stocks turned lower last week amid the increasing probability of a Fed tapering, mixed economic data, and growing concerns about the economic impact of the Delta variant.The Dow Jones Industrial Average slumped 1.11%, while the...

Wednesday, August 18, 2021

Kansas City Southern (KCS) is a railroad operating in the United States and Mexico. The company's high growth over the last ten years comes from its mix towards chemicals and petroleum customers, along with cross-border volumes, which...

Monday, August 16, 2021

Looking past inflation figures and Delta variant trends, stocks last week found a way to climb higher and set fresh record highs in the process.The Dow Jones Industrial Average rose 0.87%, while the Standard & Poor’s 500...

Wednesday, August 11, 2021

Air Products (Ticker: APD) is an industrial gas supplier for the chemicals, electronics, healthcare, and refining industries. Businesses require a steady supply of gases, such as oxygen and nitrogen, in order for their operations to...

Monday, August 9, 2021

Overcoming jitters about the Delta variant and the reintroduction of mask requirements, stocks climbed higher on strong employment data and a fresh batch of strong corporate earnings.The Dow Jones Industrial Average rose 0.78% while...

Friday, August 6, 2021

This week, the U.S. Bureau of Labor Statistic (BLS) released the employment situation summary for the month of July. It showed that total nonfarm payroll employment rose by 943,000 in July, and the unemployment rate declined 0.5 points...

Wednesday, August 4, 2021

CoStar Group was founded by Andrew Florance in 1987 and went public in 1998. CoStar owns a collection of top brands in the real estate industry, including CoStar, LoopNet, and Apartments.com. According to Morningstar, in a survey of...

Monday, August 2, 2021

The stock market posted small losses last week despite a very strong showing by corporate America.The Dow Jones Industrial Average slipped 0.36%, while the Standard & Poor’s 500 lost 0.37%. The Nasdaq Composite index dropped...

Friday, July 30, 2021

This week the five largest companies reported earnings results. First off, Amazon reported revenue of $113B (+27% y/y). AWS net sales of $14.8B (+37% y/y). CFO Olsavsky said, "We continue to be very pleased with the Prime member growth...

Monday, July 26, 2021

Overcoming a COVID-related economic growth scare, stocks moved higher amid a week of strong corporate earnings reports.The Dow Jones Industrial Average rose 1.08%, while the Standard & Poor’s 500 gained 1.96%. The Nasdaq...

Friday, July 23, 2021

Earnings season was in full swing this week. According to Zacks Research, for the 73 S&P 500 members that reported results already, total earnings are up 108.2% on revenues 15.5% higher. The triple digit earnings growth is due to easy...

Monday, July 19, 2021

Despite a good start to earnings season and some solid economic data, worries of slower second-half economic growth led to a pullback in stock prices last week.The Dow Jones Industrial Average fell 0.52%, while the Standard &...

Friday, July 16, 2021

To start with, this week the BLS (Bureau of Labor Statistics) released CPI (Consumer Price Index) data for June which showed a jump in the index above market expectations. Bloomberg shared a chart showing the largest contributors to...

Wednesday, July 14, 2021

Founded in 1993 by Kent Taylor, Texas Roadhouse operates over 600 restaurants located in the United States and internationally, serving hand-cut steaks and made-from-scratch sides.

Monday, July 12, 2021

Stocks managed small gains as investors wrestled with concerns over economic growth prospects and a rise in COVID-19 infections.The Dow Jones Industrial Average picked up 0.24%, while the Standard & Poor’s 500 gained 0.40%....

Friday, July 9, 2021

To begin with, the S&P 500 finished up last quarter for the fifth quarter in a row. Ryan Detrick recently shared a chart showing future returns of the S&P 500 after a 5-quarter up streak ("win streak"): This shows that after the S&P...

Saturday, July 3, 2021

Stock indices powered higher in Q2 as the uptrend remained intact. Global reopenings gained momentum and support broader optimism. GPM portfolios continued to perform well in Q2 as large-growth and technology sectors..

Friday, July 2, 2021

To begin with, Starbucks CEO Kevin Johnson was on CNBC's Mad Money discussing reopening trends around the world. He stated, "Consumer mobility shot through the roof and ... we started seeing traffic increasing in our stores." In...

Wednesday, June 30, 2021

Stock indices powered higher in Q2 as the uptrend remained intact. Global reopenings gained momentum and support broader optimism. Bonds rebounded nicely. GPM Aspire ETF portfolios continued to perform well in Q2 as large-growth and...

Friday, June 25, 2021

NIKE: Consumer direct and digital transformation drive exceptional growth across the business. A core GPM holding for many years, NIKE has iconic brands with remarkable underlying strengths and is a strong promoter of sport...

Friday, June 18, 2021

"Adobe is at the center of 3 massive market opportunities across creativity, digital documents, and customer experience management, which will fuel growth in the near and long term. Businesses must transform to deliver a personalized...

Thursday, June 3, 2021

Costco Wholesale is the third largest global retailer with over $175 billion of sales over the last twelve months and 275 thousand employees. About 70% of Costco's 803 warehouses are located in the United States. Costco's second...

Friday, May 21, 2021

Analog Devices, Inc. (ADI) and the global chip shortage. The well documented global chip shortage continues to impact a broad range of manufacturers. Some components are considerably more bottlenecked than others. As technology has..

Thursday, April 1, 2021

Most stock indices continued higher with wide performance variation in Q1. Investor optimism is driven by vaccines, government stimulus, and reopening. Bonds lost ground. GPM portfolios performed well in Q1.

Wednesday, March 31, 2021

Tuesday, January 5, 2021

Stocks powered higher in Q4. Most major indices ended the year at all-time highs. Investors expect a gradual vaccine-led economic recovery in 2021 with more monetary and fiscal support. GPM portfolios had a strong Q4 and 2020.

Friday, October 2, 2020

COVID-19 continues to weigh heavily on the lives of nearly everyone worldwide and remains the wildcard for financial markets. Global economies are reeling from varied shutdowns and re-openings and clearly recovering, but unevenly. While...

Thursday, July 2, 2020

The COVID-19 pandemic and far reaching government response have touched all aspects of life – at home, our families, communities, how we work, small and large businesses and society broadly. Over the past few months, we’ve...

Wednesday, May 6, 2020

We hope you are healthy and staying safe. All GPM team members continue to work safely and remotely from our homes. We look forward to returning to our office to be together and engage with clients and others face-to-face. Feel free to...

Thursday, April 2, 2020

First Quarter (Q1) 2020 Review April 2, 2020 The COVID-19 pandemic has weighed heavily on global financial markets since late February. All asset classes except safe haven Treasuries came under swift selling pressure that intensified...

Monday, March 23, 2020

March 23, 2020 Dear Friend and Client, We hope you and your family are safe and well. We know this is a challenging time full of uncertainty and worry.We want to let you know that all GPM team members are working remotely from our...