February 9, 2018
Fourth Quarter 2017: Investment Perspective
There’s something inherently funny about anachronisms. I still get a smile when my mom refers to a refrigerator as an icebox. I grew out of that one, but still call the toilet a commode. Anachronisms encapsulate history nicely, but obfuscate as well. When we introduced our Market Dashboard in this quarter’s webcast, I worried we might have stumbled into an intergenerational disconnect. I realize that by the time my daughters start to drive they will understand ‘dashboard’ as the heads-up display that informs them of the decisions the car has already made for them—if they can be bothered to glance up from Instagram. “The Lidar intercepted a cyclist crossing at 100 feet and applied 40% braking force,” her dashboard will output. Then hopefully, “Your calculus problem set is due tomorrow.” But that’s precisely not the metaphor we had in mind.
On a quarterly basis, Hirtle Callaghan publishes our perspective on the current market. We have included the first page of that piece below. If you would like to receive the full perspective, please contact us.