2022 Q3 Quarterly Commentary & Opinion

Dear Clients and Friends of Kondracki Advisory Investment Management,

In what has been a very volatile year thus far for the stock and bond markets, our year-to-date composite total return through October 7, 2022, is -8.80%, vs. -22.73% for the S&P 500 Index, -18.18% for the DJIA, and -32.30% for the Nasdaq. The iShares Core U.S. Bond ETF (AGG) returned -14.70%. Taking a longer term look at our investment performance, our one-year composite total return through October 7 is -1.65% vs.-16.04% for the S&P 500 Index, and -14.59% for the Aggregate Bond Index. Our three-year and five-year average annual composite total returns through October 7 are 9.65% and 8.70%, respectively, and have been achieved with nearly 40% less volatility than that of the stock market. Our portfolios have generated significant alpha relative to the S&P 500 over every measured time frame since the inception of our firm and have demonstrated superior downside protection as compared to the S&P 500 Index during periods of considerable market volatility. This has always been our goal, and consistently achieving it is foundational to our value proposition for clients. Download Commentary