The old adage “don’t fight the Fed” was never more apt than in 2022, a year of stunningly bad performance across virtually every asset class. Equities fell nearly 20% while bonds, normally a safe haven, turned in their worst performance in over 50 years.

Recent market action has been unsettled, an environment requiring a steady hand and disciplined management. At Roanoke, we believe in the power of the American system to support innovation leading to improved efficiency, higher labor productivity and ultimately sustained economic growth in the long-run and get excited when we’re able to add long-term winners to your portfolio during times of heightened trepidation.