The third quarter of 2018 was marked with a strong domestic stock market, weak Chinese equity market and rising US interest rates. 

We believe stocks are the best leading indicator for the economy, not the other way around. Valuations don’t cause or predict market corrections.

Despite surging volatility, a tumultuous six months ended 6/30/2018 and a small decline in the last week of June, US stocks, as measured by the S&P 500 total return index, showed a positive return for the quarter.

We are pleased to report very favorable results for the Plumb Funds for both the quarter and the calendar year. World stock markets continued their advance in the fourth quarter of 2017. 

We believe that global healthcare innovation is one area with dynamic opportunities. There has been some tremendous advancement in this field, including new drugs, therapies, early detection, treatment, medical devices, information systems, and robotics, to name just a few.