The S&P 500 Total Return Index returned 28.7% in 2021 in the face of new COVID variants, higher inflation and a potential shift in Federal Reserve policy. The primary driver of the favorable return last year was strong growth in earnings from the companies in the Index. In fact, 2021 earnings for S&P 500 companies will be in the mid 30% range for the year.

The Index returned 0.6% for the third quarter, representing the fifth consecutive quarter of positive performance since last spring’s pandemic lows. The quarter started off strong as supportive Federal Reserve policy, slowing Covid cases, and strong quarterly earnings reports drove the index up nearly 6% through July and August. Much of this gain was given back in September as government funding and shutdown concerns dominated the news headlines.

Please find attached your Talbot Financial fourth quarter 2020 portfolio review to supplement your monthly account statements available from Schwab. The report provides a performance summary of your investment portfolio compared to the S&P 500 Total Return Index (“Index”), Talbot Financial’s benchmark, and lists your investment portfolio holdings by industry sector.

Please find attached your Talbot Financial first quarter 2021 portfolio review to supplement your monthly account statements available from Schwab. The report provides a performance summary of your investment portfolio compared to the S&P 500 Total Return Index (“Index”), Talbot Financial’s benchmark, and lists your investment portfolio holdings by industry sector.

Please find attached your Talbot Financial second quarter 2021 portfolio review to supplement your monthly account statements available from Schwab. The report provides a performance summary of your investment portfolio compared to the S&P 500 Total Return Index (“Index”), Talbot Financial’s benchmark, and lists your investment portfolio holdings by industry sector.