Broker Check

March Newsletter 2024



     March 1, 2024


“The Joy of Growing”


With the spring solstice just around the corner we see change and renewal in the air. And just as spring brings new beginnings, thoughtful financial decisions pave the way for a brighter financial future!  Many clients come in this time of year to discuss their portfolio results, review financial planning items and they will often ask me how my family is changing and growing.  This is always appreciated, and we are interested to know how your family is growing and changing as well.  Stephenie and I spend as much time with the children as possible to help shape their personalities and to help them grow as a result. 

Our youngest, Keagan, turned eight this past month.  He likes to swim, bike, ski and participate in gymnastics where he gets to expend all that extra energy that comes with being that age!   It is now spring wrestling season, and he is once again going to participate in the Durango Wrestling Club program.  Last year was his first experience with the sport and at the end of last season, he proclaimed that he was going to “retire” from wrestling. I spent the winter encouraging him to come “out of retirement” and he is back at it and doing well at wrestling practice. I see him learning, listening to his coach, focusing, following instruction and striving to accomplish his goal, overall. 

Kyla is now a first-year student in high school attending Durango High School.  She is an accomplished downhill skier.  On the weekends you can see her on the slopes running moguls or swishing through the trees.  She is going on her 10th year as a Girl Scout and loves supporting her organization by selling as many cookies as possible.  Perseverance and patience have made a difference in these activities.  Kyla struggled early on with reading until we discovered she had a certain light sensitivity condition that creates difficulties with reading. With the right treatment, perseverance and patience and a few years of tutoring she is doing much better, my how she has grown!  For Kyla, spring golf becomes the next activity.  Participating in the sport of golf requires discipline, patience and dedication.

Successful investing requires the same attributes, discipline, patience and dedication! So, as we work to help our clients, we use these attributes to help us grow portfolios under our management.  So far, our total aggregate portfolio returns for 2024 are off to a good start with the total equity side of the portfolio positive and with domestic securities in the portfolio up over four percent as of February 29, 2024.  The general investment landscape is being shaped by expectations on interest rate changes and the continued belief in technology will boost results due to machine learning. 

At the end of last week Nvidia, one of the largest technology firms driving Artificial Intelligence (AI), saw its’ shares soar after reporting outstanding profits. They have become the epitome of AI growth which will impact the economy.  Columbia Seligman Premium Technology (STK) is the fund in our portfolio that has the greatest exposure to AI and it is up over thirty-two percent this past 12 months.  Another fund influenced by technology and machine learning is Iron Mountain, Inc. (IRM), which is up over fifty-five percent in the past 12 months.  To summarize what our total portfolio has done on a longer-term basis see the chart below.

Note:  Total TWRR is net of fees, client’s returns will be reflective of their allocation.

On the income side of the portfolio the value of the portfolio fluctuates based on interest rate expectations.  The Fed must weigh the impacts of inflation and they are offsetting that by taking a “higher-for-longer” strategy for now.  The market is adjusting to the expectation of three interest rate cuts this year as opposed to the start of the year when markets were pricing in the possibility of as many as seven interest rate cuts in 2024.  Data came out Wednesday confirming the US economy saw solid growth in the fourth quarter of last year and the Atlanta Fed showed a GDP forecast around three percent for the first quarter of 2024. 

We continue to transition and grow with Charles Schwab while smoothing out the processes as we continue forward. I have kept this month’s letter intentionally short as you will also receive several communications from us covering the following topics:

  • Schwab Alliance technology sign in requirements.
  • Distribution of the annual ADV Brochure & Privacy Policy disclosure.
  • Mailings affirming our advisory relationship with return documents required.

Please call us with any questions you have about these documents.  Schedule a call or come in to visit with us to share your stories on the growth occurring in your life and goals you have set to brighten your financial future.  We are here to help you with those goals!



Intelligent Investment Management, LLP