Ron Sloy, CFP of Sloy, Dahl & Holst, Inc. a financial services firm located in Portland, Oregon, gives his current analysis of market conditions. Thankfully, stability in the financial markets returned in November. During October it was mentioned that the market had bottomed out and it was an advantageous time to purchase equities. Since November, the Dow has risen around 2,500 points. We think the markets will continue to raise in December and expect a Santa Claus rally in anticipation of the January effect, where funds often reinvest their portfolios.
(PORTLAND, ORE.) – Jerome Kersey was an extraordinary Portland Trail Blazer before he passed away earlier this year in February. A new holiday light display located on a West Hills homes this holiday season is built in honor of Kersey. This giant holiday light display, “JK25 Santa Hat”, is made with 3,800 lights, and can be seen from the southeast and downtown regions of Portland, OR. The display is now in the final installation stage and will be switched on this Friday, November 13th.
Ron Sloy, who initiated this project, is a close friend of Kersey’s for over 30 years. Sloy wanted to honor his friend, Jerome Kersey, in this special and memorable way. “Jerome was an incredible man both on and off the basketball court,” says Sloy. “Not only was he a leading player for the Blazers, he was a valuable member of the community, always reaching out to enrich the lives of others.” Kersey was often seen personally delivering leftover food from Blazer games to local homeless, and he was a generous supporter for local youth groups.
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After Kersey has passed, there has been discussions in the Portland basketball community talking about retiring Kersey’s jersey number, 25, in recognition of his extraordinary performance with the Blazers. Kersey’s record was on top of many categories, including scoring, steals, games and minutes played, blocked shots, field goals, rebounding, and assists. “Jerome was loved by everyone. This unique display will allow Portlanders to celebrate his legacy.” Said Bill Schonely, Blazers longtime announcer.
It was an engineering challenge to build the gigantic light display that was 32’ feet high and 34’ wide. The process acquired precision planning considering the size, complex design, and challenging site conditions. The decoration was set on an aluminum frame and mounted on front of one of the West Hills homes, which set on a deep slope with sharp drop-off. It was also made with 3,800 lights and features a giant “JK25” Santa hat. The display was designed and completed by custom metal fabricator Hanset Stainless, and took six weeks to construct and one week to install. “This truly was a unique and challenging project,” says Shane Crunchie, the project manager for Hanset Stainless. “Our whole team was excited to be a part of such a special project to honor a great member of the Portland community.” Crunchie believes that the “JK25 Santa Hat” will become Portland’s new holiday icon.
Sloy mentioned that he will be displaying the “JK25 Santa Hat” every holiday season in honor of his friend Kersey. “I hope that Portlanders will join me in recognizing all that Jerome did for the Blazers and for our community,” Sloy says. “Jerome’s number will be hanging high in our night sky for all to see. I hope it will also be hanging from the rafters before too long.”
If you’d like to join the conversation around retiring Kersey’s jersey number, please tweet with #JK25 and #retirejerseyJK25.
Photos of the Jerome Kersey holiday light display - the Oregonian
Ron Sloy talks about the Jerome Kersey holiday light project - Fox 12 Oregon
The Q3 of 2015 was the worst performing quarter for the markets in the last four years. From height to bottom the Standard & Poors 500 dropped more than 11%, providing the first correction greater than 10% since 2011. Although market volatility is unsettling, please understand that corrections are a natural occurrence in a healthy market.
Here are returns for five major indexes through September 30th:
BarCap US Agg Bond + 1.13%
S&P 500 – 5.29%
Russell 2000 – 7.73%
MSCI EAFE (Europe) – 5.28%
MSCI EM (Emerging Markets) – 15.47%
The volatility in third quarter was driven primarily by two events; fear of a global retraction (especially in China), and uncertainty of the Federal Reserve’s rate decision. However, we remain optimistic and see the recent pullback as a bull-market pause; we expect the DOW will exceed 20,000 at some point in 2016.
Q3 corporate earnings expectations have been lowered so extensively that we expect upside earnings surprises. The U.S. market is outperforming expectations, the European market is growing, and the Emerging Markets (especially China) continue to outpace developed economies. The housing and auto sectors remain strong and we are seeing stabilization in energy. We believe a rate hike in December is still imminent, and we expect this will be positive development for financial markets. We continue to like the following sectors: Financials, Energy, Health, Technology, Europe and the Emerging Markets.
October has begun with a nice lift from the bottom, but we predict volatility continuing. By year-end, however, we believe the markets will be growing.
We want to be the first to wish you and your family an magical, joyous, and healthy holiday season.
As always, please feel free to contact us with any questions or concerns.
Sloy, Dahl & Holst, Inc.
Ronald Sloy provides a market review at the 2015 Sloy, Dahl & Holst Invitational held at Columbia Edgewater Country Club on July 20, 2015. Here’s the video tribute from the day. Later that evening, there was a tribute dinner in memory of Jerome Kersey.
Ronald Sloy, CFP operating in Portland, OR gives an analysis of the market. The old saying, “sell in May and go away,” didn’t hold true this year. It would not be surprising to see a little pullback during the summer. It appears the Fed is going to raise interest rates. There are two economies that are doing extremely well that Sloy, Dahl & Holst has taken a position in. We’ve added to the European Sector and Japan is best performing year to date. There continues to be opportunities in the market. We like the Healthcare Sector and Apple has been one of our bellwethers. The market looks bumpy throughout the summer. Expect the markets to head higher between now and year’s end.
Sloy, Dahl & Holst was selected to be featured in Bloomberg Businessweek and Fortune and Money Magazine as these publication focus on Oregon and Pacific NW investment professionals. Please take a moment to view the attached profile of the firm. Ronald Sloy as well as Sloy, Dahl and Holst were also featured in Forbes Magazine in 2009.
Bill Schonely of the Portland Trailblazers presents Ron Sloy at Jerome Kersey's tribute. Ron Sloy was the best man at Jerome's wedding and his best friend for three decades.
It's been a fascinating year up to this point. January has been exceptionally unpredictable. We envision that will be the pattern for momentarily, up 300 points one day on the Dow, down 300 the following. The uplifting news is, since we've moved into February we've seen around a 500 point move in the business. We feel there's a gigantic open door in the vitality segment, keep on enjoying health awareness and we likewise like the likelihood of moving cash into Europe in the following 90 days. A year prior, I said we'd do a 10% return in 2014. I accept due to vitality costs we'll show improvement over that in 2015. Search for values to give back 10-14%.
Ron Sloy spoke at the Corporate Golf Tournament held at Columbia Edgewater Country Club and gave his 2014 market recap . Click on the video below for the entire 2014 forecast. There were nearly 100 corporate clients in participation.
Ron Sloy can be found on twitter @RonSloy. Or check out Ron Sloy's main blog hosted through the Sloy, Dahl & Holst website.
CFP Ron Sloy brings you up to date with the his weekly Market Recap commentary.