Blog

What’s on our mind? You can read about it in our blog. Here is 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 are glad to have you as a member of our community.

To see an archive list of our Core Portfolio Insights, click here.

Monday, May 16, 2022

In a volatile trading week, stocks extended their losses as economic growth and inflation concerns soured investor sentiment. The Dow Jones Industrial Average dropped 2.14%, while the Standard & Poor’s 500 lost 2.41%. The Nasdaq...

Friday, May 13, 2022

Founded in 1954 by Walter, Eric, and Evan Nord in Amherst, Ohio, Nordson is a $12 billion market cap company today that sells hoses, nozzles, valves, pumps, and more to industrial customers. These industrial customers have production...

Monday, May 9, 2022

With the Fed in focus, the markets experienced wide price swings over the course of last week, as technology companies led the market lower. The Dow Jones Industrial Average slipped 0.24%, while the Standard & Poor’s 500...

Monday, May 2, 2022

On Friday, a sharp sell-off sent major stock market indices into negative territory for the week, capping a volatile close to April. The Dow Jones Industrial Average declined 2.47%, while the Standard & Poor’s 500 tumbled 3.27%....

Wednesday, April 27, 2022

Hawkish comments from Fed Chair Jerome Powell overshadowed many largely positive earnings results, sending stocks lower for the week. The Dow Jones Industrial Average declined 1.86%, while the Standard & Poor’s 500 dropped 2.75%...

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Monday, April 18, 2022

Stocks posted losses in a holiday-shortened trading week as the first-quarter earnings season kicked off and investors digested new inflation data. The Dow Jones Industrial Average declined 0.78%, while the Standard & Poor’s 500...

Wednesday, April 13, 2022

Monday, April 4, 2022

Stock indices worldwide fell in Q1 as Russia’s invasion of Ukraine, hot inflation, and higher interest rates converged to weigh on sentiment. Notably, U.S. Treasury yields have already risen to

Friday, April 1, 2022

Russia’s invasion of Ukraine, hot inflation, and Fed rate hikes converge as difficult-to-compartmentalize uncertainty.

Monday, March 28, 2022

With growing confidence in the economy’s resilience, stocks posted another week of solid gains. The Dow Jones Industrial Average rose 0.31%, while the Standard & Poor’s 500 advanced 1.79%. The Nasdaq Composite index picked...

Friday, March 25, 2022

Willis Carrier was an American engineer who invented the electrical air conditioner in 1902 and later founded Carrier in 1915. Air conditioning quickly became a hit with people seeking better working conditions and more comfortable...

Tuesday, March 22, 2022

With the Fed embarking on a new course of monetary tightening amid continued fighting in Ukraine, stocks staged a powerful, broad-based rally last week. The Dow Jones Industrial Average jumped 5.49%, while the Standard & Poor’s...

Monday, March 14, 2022

Intensifying hostilities in Ukraine continued to unsettle markets, as investors grappled with the war’s impact on the global economies. The Dow Jones Industrial Average lost 1.99%, while the Standard & Poor’s 500 dropped 2...

Friday, March 11, 2022

Ray Stata and Matthew Lorber founded Analog Devices in 1965 with its first amplifier the size of a hockey puck. Fifty seven years later, Analog is a global leader in semiconductor technology and engineering, employing over 25,000...

Monday, March 7, 2022

War in Ukraine weighed on stocks as investors assessed the economic impact of continued hostilities, expanding economic sanctions, and potentially higher inflation due to rising oil prices and new stresses on the global supply chain....

Monday, February 28, 2022

Investors rode a rollercoaster of emotions as rising hostilities at the Russian-Ukrainian border sent stocks sharply lower before a powerful late-week rally erased early losses. The Dow Jones Industrial Average was flat (-0.06%),...

Friday, February 25, 2022

Founded in 1974 as Charter Med in Minnetonka, Minnesota, UnitedHealth Group grew into one of the largest companies by revenue in the world today with $288 billion in 2021. This is the fifth most revenue of any company in the...

Tuesday, February 22, 2022

Stocks closed lower for the week as escalating tensions on the Russian-Ukrainian border added to existing jitters over higher inflation and a pending tightening of monetary policy. The Dow Jones Industrial Average slid 1.90%, while...

Monday, February 14, 2022

A hot inflation print and the growing concern of a Russian invasion of Ukraine sent stocks tumbling late in the week, leaving major indices lower for the five-trading days. The Dow Jones Industrial Average skidded 1.00%, while the...

Wednesday, February 9, 2022

Miles Lowell Edwards founded Edwards Lifesciences in 1958. Along with Dr. Albert Starr, Edwards invented a life-saving aortic valve prosthesis that has gone on to save the lives of hundreds of thousands of patients. Baxter acquired...

Monday, February 7, 2022

Stocks managed to gain ground last week as investors turned their focus to corporate earnings. The Dow Jones Industrial Average rose 1.05%, while the Standard & Poor’s 500 gained 1.55%. The Nasdaq Composite index picked up 2.38%...

Monday, January 31, 2022

An exceptionally volatile week, marked by wide intraday price swings, whipsawed investors with stocks ending higher following a surge to the upside on the final trading day of the week. The Dow Jones Industrial Average rose 1.34%,...

Monday, January 10, 2022

A jump in yields sparked by a more aggressive sounding Federal Reserve sent the market lower to start the new year. The Dow Jones Industrial Average fell 0.29%, while the Standard & Poor’s 500 declined 1.87%.

Tuesday, January 4, 2022

U.S. stock indices posted robust gains in 2021. Globally, most developed markets also advanced in local currencies. Trillions of government stimulus funds in the system and the end of COVID lockdowns in the summer powered a surge in the..

Sunday, January 2, 2022

Aspire Stock ETF Portfolios posted solid gains in the fourth quarter and 2021. Portfolio performance was led by gains in tech, large-cap growth, and dividend payers. With the sharp rise in COVID infection spread, our medical device maker..

Wednesday, December 29, 2021

Monday, December 20, 2021

Stock prices retreated last week as global central banks joined the Federal Reserve in taking steps to tighten monetary policy. The Dow Jones Industrial Average fell 1.68%, while the Standard & Poor’s 500 dropped 1.94%. The...

Monday, December 13, 2021

A more benign reassessment of the possible economic risk posed by Omicron sent stocks sharply higher last week. The Dow Jones Industrial Average picked up 4.02%, while the Standard & Poor’s 500 advanced 3.82%. The Nasdaq...

Wednesday, December 8, 2021

Salesforce was founded in 1999 in San Francisco by Marc Benioff (the current co-CEO) and three others. The company sells customer relationship management (CRM) software. What differentiated Salesforce from other enterprise software...

Monday, December 6, 2021

Stocks took investors on a wild ride last week as the Omicron variant and Fed comments upended market expectations. The Dow Jones Industrial Average fell 0.91%, while the Standard & Poor’s 500 stumbled 1.22%. The Nasdaq...

Monday, November 29, 2021

News of a new, highly virulent COVID variant triggered a market sell-off on Friday, sending stocks into negative territory for the week. The Dow Jones Industrial Average slid 1.97%, while the Standard & Poor’s 500 slumped 2.20%....

Wednesday, November 24, 2021

Alphabet is the holding company formed in 2015 for Google and its other businesses. Today, Alphabet is the third largest company in the world with a market cap near $2 trillion, trailing only Apple and Microsoft (two other GPM Grade...

Monday, November 22, 2021

Stocks were mixed last week in choppy trading as investors battled the crosscurrents of good economic data and a troubling rise in COVID-19 infections globally.The Dow Jones Industrial Average slid 1.38%, while the Standard &...

Monday, November 15, 2021

Stocks posted small declines last week as investors digested recent stock market gains and an unexpectedly high inflation read. The Dow Jones Industrial Average slid 0.63%, while the Standard & Poor’s 500 retreated 0.31%. The...

Monday, November 8, 2021

A Federal Reserve announcement on tapering, a fresh batch of corporate profits, and encouraging economic data lifted stocks to another weekly gain.The Dow Jones Industrial Average rose 1.42%, while the Standard & Poor’s 500...

Friday, November 5, 2021

Founded in 1975, Microsoft is the largest company in the world today by market cap. Its $2.5 trillion market cap recently put it ahead of another GPM Grade Company, Apple. Microsoft is best known by its Microsoft 365 offering which...

Monday, November 1, 2021

A fresh wave of positive corporate earnings surprises sent markets to new record highs last week.The Dow Jones Industrial Average increased 0.40%, while the Standard & Poor’s 500 rose 1.33%. The Nasdaq Composite index picked...

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...

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...

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.

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...

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...

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...

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...

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...

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.

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...