Market Commentary

2017 Q1 Update

After a strong finish in 2016, stocks continued to march higher in the first quarter of 2017. The S&P 500 Index finished up 6.1% in the first three months of the year, surpassing other domestic indices (the Russell 2000 Index gained 2.5% during the quarter). Impressively, since the most recent market trough on February 11th, 2016, the S&P is up 32% and the Russell 2000 is up 48%.

Manager Perspectives

Insights on Investing: Analyst Q & A: The Bullish Case for Housing
February 2017

  • Davenport Asset Management Research Analyst Kevin Bennett gives his thoughts on the housing industry.

Market Update: Perspective on 2016, the "Trump Trade," and a Theme for 2017
January 2017


Fund Perspectives: DBALX: With Rates on the Rise, Can Your Balanced Fund Keep Up?
December 2016

  • A look at rising interest rates and the Davenport Balanced Income Fund

Fund Perspectives: DSCPX: Are Small Caps Poised for Bigger Returns?
December 2016

  • A look at post-election themes and the Davenport Small Cap Focus Fund

3rd Quarter Market Update
November 2016

Market Perspectives: Thoughts on the Election
September 2016

  • With the Presidential election quickly approaching, negative rhetoric is likely to increase between now and November.  We have found the benefit of ‘Time IN the Market’ far outweighs ‘Timing the Market’ based on such events.

Market Perspectives: "Brexit"
June 2016

  • The U.K.'s exit looks to be a lengthy and complicated process that may result in less change than people expect

Portfolio Insights: Value & Income
May 2016

  • George Smith discusses the importance of Investment Flexibility within the Value & Income Portfolio

Johnson & Johnson is Cradle to Grave
May 2016

  • Mike Beall gives a 50-year recap of  this Legacy Investment and explains why it is a Core Holding in more than one of our portfolios

Value Traps
April 2016

  • Mike Beall identifies factors used to differentiate ‘Value Situations’ from ‘Value Traps’

Ownership Cultures
March 2016

  • Aligning Management Teams with Shareholders for Long-Term Success

Disclosure: The information contained herein has been compiled from sources believed to be reliable; however, there is no guarantee of its accuracy or completeness. The Russell 2000 Index measures the performance of the 2000 smallest companies in the Russell 3000 Index, which represents approximately 8% of the total market. The S&P 500 Index is comprised of 500 U.S. stocks and is an indicator of the performance of the overall U.S. stock market. An investor cannot invest in an index and index returns are not indicative of the performance of any specific investment. Past performance is not indicative of future results.