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Inflation - Yes or No?

by Fortem Financial October 1, 2021

With inflation a key concern for most investors, we wanted to share a paper we read this week written by Bob Doll at Crossmark Global Investments. We thought it was a great review of what is happening with inflation now. Read Story   … View More

Is this the start of stagflation like we saw in the 70’s?

by Fortem Financial September 27, 2021

Global supply chain struggles have persisted in 3Q, and look set to linger for at least several more quarters. Energy prices have surged in Europe, and transportation issues are creating petrol lines in the U.K. Data from China have shown notable disruptions, though fears of financial contagion came and went quickly last week. “U.S. shipping operations remain clogged as ports, truckers and warehouses can’t find enough workers or agree on 24/7 operations … Tens of thousands of containers a… View More

They call it a Black Swan for a reason

by Fortem Financial September 20, 2021

A black swan event in the investment world is an extremely negative and usually hard to predict event; "Evergrande" has been labeled by some as just such an event. It is the latest event in China to affect the US and global markets. Many US investment banks like Morgan Stanley, Goldman Sachs, and Bank of America Merrill Lynch have exposure to “Evergrande”, and their stocks are paying for it today. These companies represent more than 120 points of the loss on the Dow Jones Industrial average … View More

Update on Washington's proposed spending

by Fortem Financial September 14, 2021

BREAKING DOWN THE MAJOR SPENDING PROVISIONS IN THE RECONCILIATION BILL We thought you might appreciate seeing a summary of some of the provisions in the budget bill now being considered in Washington. This is a very large bill, and amazingly, if Congress keeps to its schedule they will have presented, considered, amended, and voted on it in less than 30 days. Because this bill is so large in size and broad in scope, we believe it will affect many parts of the economy. We believe it may also hav… View More

FIRST LOOK AT THE HOUSE TAX INCREASE PROPOSAL

by Fortem Financial September 13, 2021

Over the weekend Congress continued to work on the budget proposal and its accompanying tax increases. It looks like reconciliation will be used to pass them. On Saturday, the House Ways and Means Committee released 650 pages of legislative text for renewable energy, social safety nets, infrastructure bonding, and health care proposals. Yesterday, we saw the unofficial, initial outline of the House plan for tax increases, which contained roughly $2 trillion in new/additional taxes. The proposal… View More

Is The Economy starting to show signs of slowing?

by Fortem Financial September 7, 2021

The stagflation scare continues. Economic bottlenecks are lasting longer than expected. There have been new disruptions in the third quarter (eg, harsh weather, new auto plant shutdowns). The Conference Board measure of consumer confidence fell in August. U.S. vehicle sales plunged again to a 13.1 million SAAR. We’re lowering our forecast for U.S. real GDP growth in the third quarter to 2% q/q A.R. from 4.8% previously. We’re relying on inventory rebuilding to contribute to growth, as consum… View More

SEASONALS ANOTHER CHALLENGE FOR “A SEPTEMBER TO REMEMBER”

by Fortem Financial August 30, 2021

“October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February.” Mark Twain. To be honest, we are not particularly big fans of relying on seasonal patterns, especially in an environment when policymakers are breaking all the rules. Every snap either seems to be an audible or a broken play. Still, we believe we would be remiss if we didn’t point out that, since 1950,… View More

THE SEPTEMBER TO REMEMBER (AND POSSIBLY OCTOBER AND NOVEMBER)

by Fortem Financial August 23, 2021

Good morning. We hope everyone is enjoying their summer. With the summer coming to a close, we see a growing number of client questions on policy issues impacting financial markets. Below we outline the latest state of play on the bipartisan infrastructure package, the $3.5 trillion spending budget and legislation, a potential government shutdown, the debt ceiling, and the reappointment of Fed Chairman Jay Powell. The recent news from Afghanistan, notwithstanding its geopolitical implications, … View More

Looking at what’s down the road

by Fortem Financial August 17, 2021

Liquidity Growth Slowing Along With S&P Rate Of Change The growth in M2 has been slowing for several months now, and it should come as no surprise that the rate of change in the S&P is slowing as well. This is very typical at this point in the recovery as we lap the months where liquidity was injected, and the S&P rose from the lows following the crisis. As we have stated in the past, returns are more challenging in year two and year three following a bear market. Earnings Growth T… View More

Passing the Infrastructure Bill

by Fortem Financial August 11, 2021

The Senate just passed a new 2,700 page $1 trillion bipartisan infrastructure bill. From the Senate, the bill moves to the House where Speaker Pelosi has suggested she will not take up the bill until Senate Democrats pass a separate (and much more expensive) package without GOP votes under a budget reconciliation process. Because this bill includes the largest tax increases since 1968 (nearly three times the size of the tax increases enacted by Reagan, Bush, Clinton, and Obama), we feel it is im… View More

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PRIVACY NOTICE REGARDING CLIENT PRIVACY

Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

If you have questions please call us at 760-206-8500 or go to our website at www.fortemfin.com.

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Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

This website is limited to the dissemination of general information regarding the Firm's investment advisory services offered to U.S. residents residing in states where providing such information is not prohibited by applicable law. Accordingly, the publication of Fortem Financial' website on the Internet should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment, tax or legal advice. Furthermore, the information resulting from the use of any tools or other information on this website should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Fortem Financial. Any subsequent direct communication from Fortem Financial with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. Fortem Financial does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to this website or incorporated herein, and takes no responsibility therefore. All such information is provided for convenience purposes only and all users thereof should be guided accordingly.

All statements and opinions included on this website are subject to change as economic and market conditions dictate, and do not necessarily represent the views of Fortem Financial or any of their respective affiliates. Past performance may not be indicative of future results and there can be no assurance that any views, outlooks, projections or forward-looking statements will come to pass. Investing involves risk, including the potential loss of principal, and the profitability of any particular investment strategy or product cannot be guaranteed.

Any rating referenced herein may not be representative of any one client's experience. Further, the Firm's receipt of any rating is not indicative of the Firm's future performance. The Charles E. Merrill Circle of Excellence award is granted by Merrill Lynch for outstanding client service and satisfaction. The award is granted based on annual criteria established by Merrill Lynch for its top decile advisors. The Barron's Top 1,200 Financial Advisors rating of the top financial advisors in the United States is based on data provided by participating firms. The following factors are included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance is not an explicit component. The Palm Springs Life's "40 Under 40" Rising Young Professionals to Watch in the Coachella Valley is based upon nominations from the local business community and selected by the staff of Palm Springs Life.

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