Q2 - 2026 Trade Memo | Staying the Course—With Eyes Wide Open
Markets did something few expected this quarter: they bounced back — sharply. Broad equity indices pushed back toward all-time highs, and the mood among investors shifted from anxious to cautiously optimistic. But at LynnLeigh & Company, we never let a rally — or a selloff — distract us from the plan.
Staying the Course
When markets move fast, disciplined planning is what keeps your portfolio — and your confidence — on track.
In our Q2 2026 Trade Memo, Managing Partner Kelly L. Olczak, CFP®, walks through the portfolio adjustments we made this quarter and the thinking behind them. We trimmed our equity overweight from 3% to 1%, not because we've lost confidence in the market, but because disciplined investing means locking in gains when risk premiums compress. We maintained our core conviction in U.S. large-cap and AI-driven themes, where earnings continue to outpace prices — the opposite of a bubble. We increased precision in international positioning through an actively managed, country-selection approach. And we introduced a dynamic liquid alternatives allocation within our fixed-income sleeve, building a smarter shock absorber for whatever comes next.
We also address the question clients are quietly asking: Is this an AI bubble? The data says no — and we show you why.
The backdrop remains constructive: strong corporate earnings, an AI-driven productivity boom, and structural growth tailwinds across technology and defense. But with new Fed Chair Kevin Warsh introducing policy uncertainty and inflation still requiring a watchful eye, this is exactly the environment where having a Big Picture Plan — and a team executing it with discipline — makes all the difference.
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