Q4 performance was generally strong and helped to take at least some of the sting out of a bad year for domestic stocks. Persistent inflation, a hawkish Federal Reserve and a weak economy all combined to make 2022 a period that most equity investors would prefer to forget.
Value stocks were the place to be in Q4 and for the full year, as interest rates remained elevated after rising sharply for the first ten months of 2022, keeping investor time horizons short.
The threat of a weakening economy persists, with the Wall Street consensus putting the odds at 65% for a recession within the next 12 months. At the same time, valuations, at least for small caps, appear to be discounting a substantial downturn already.
Recent Insights
Country Indices Flash Report – September 2025
The Federal Reserve cut its benchmark rate for the first time this year, joining other central banks in the global easing cycle. Gold surged to a record $3,800/oz, up 45% year to date, as rate cuts, political uncertainty, and rising debt levels bolster its appeal. [Read more...]
September 30, 2025
Bailard Recognized Among Barron’s Top 100 RIA Firms
Bailard, Inc. has been named to Barron’s list of the Top 100 RIA Firms for 2025, marking our fourth appearance in five years.
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Bailard Equity Strategies Ranked by Zephyr’s PSN
Four of Bailard's equity strategies—International, Micro Cap Value, Technology, and Technology and Science—were recognized in Zephyr’s quarterly PSN rankings for Q2 2025. The list showcases strategies that delivered notable performance amid rapidly changing market conditions.
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