Weekly Market Recap Manufacturing data for July was positive for both the US and Europe, although sluggish in Japan. In the housing market, US new home sales surged for July while sales of existing homes were soft. US jobless claims continued to point to a strong employment market. The latest estimate for US Q2 GDP growth came in at 1.1% annualized. The markets have experienced low volatility in past weeks. This means that there have been less sharply up or down movements in July/August thus far than we typically see over this time period. Of course, short term market direction can be hard, if not impossible, to gauge and we don't claim to have a crystal ball. However, longer term, over decades, the markets tend to be more predictable, in our view. Historically, well-diversified portfolios have seen robust returns when looked at over decades. Nonetheless, what appears to be steady growth over many years becomes more volatile when you zoom in to the daily price movements. We believe the important thing to focus on as a long-term investor is not the day-to-day noise and accompanying media commentary, but the overall long-term trend. Historically, that has been favorable for the patient investor. Disclaimer:
The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic political conditions, and as subsequent conditions vary. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. This material may contain "forward-looking statements": information that is not purely historical in nature. Clients may lose money. Past performance is not indicative of future results. Investments in securities involve the risk of loss. Any tax strategies discussed should not be interpreted as tax advice and do not represent in any manner that the tax consequences detailed will be obtained. Clients should consult with their personal tax advisors regarding the tax consequences of investing. Your Portfolio Update Over the past month your portfolio was up 0.2%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio | 0 Accounts with Actions | Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps  |  | Action Required - keep your recommendations accurate | | Your financial institution requested additional authentication to keep your investment accounts synchronized to FutureAdvisor. Keeping your accounts synchronized allows FutureAdvisor to monitor and keep you up-to-date on your investments and recommendations. | | Please log in to fix this in your Financial Profile. | | Sign in to see your full dashboard | * All amounts are as of the sent date of this email | 
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