Ingenuity Drives Investment Returns

Civilization is a history of innovation—curious minds seeking to improve upon existing ways of meeting mankind’s wants and needs. Public securities markets have a history of rewarding investors for the capital they supply to fund such innovation. However, a significant fraction of the wealth created in public equity markets typically comes from only a small number of firms with really great ideas.

 This week's highlight article summarizes the story of Frederick Smith's founding of FedEx and the innovative thinking it took to become an unlikely success. The article reiterates the importance of diversification as its nearly impossible to pinpoint these inflection points of human ingenuity, and even more difficult to forecast where the benefits of such innovation will accrue. 

Sell in May and Go Away, Return in

July as Markets Fly?

Past performance is not indicative of future returns; however, our Chart of the Week from Blackrock shows the often-predictive power of a strong July. Last month was the 4th strongest July for the S&P500 on record as markets rallied 9.2% from the lows. As shown in the chart to the right, the momentum from a strong July often carries on throughout the year.

What Else We're Reading

Legacy Trust Family Wealth Offices

 4200 Marsh Landing Blvd, Suite 100

Jacksonville Beach, FL 32250

Office: (904) 280-9100

Fax: (904) 280-9109

Legacy Trust Family Wealth Offices of Jacksonville Beach, Florida, is a new type of financial services firm - an independent multi-family office - that brings all facets of your personal financial affairs under one roof, where they are coordinated for optimum efficiency and maximum performance. 

Investment products are not FDIC insured, are not bank guaranteed, and may lose value.