In June, I wrote a memo to the firm to make clear that Litman Gregory stands against racism and views inclusion as a core value. Our co-founders also shared a personal communication that underscored these beliefs in which they offered to extend our company’s charitable matching program and bolster this year’s impact by personally matching individual gifts to charitable organizations that support communities and causes working to achieve an equitable society for all. We believe it is also important that our clients and friends know where we stand so I am sharing excerpts from my internal communication below:
I am reaching out on behalf of our Executive Team to acknowledge the extraordinarily difficult period we’ve been experiencing and to consider this in the context of the values of our firm. Recent events have elevated the frustration and urgency around the destructive power of racism and the imperative for progress. We are also amidst a painful economic downturn and health crisis that is particularly hitting the most vulnerable members of our community. We know that many of us share feelings of sadness or anger and a strong desire to help.
In considering the events around us, we have had many individual conversations within the Litman Gregory community and feel it is important that you know where we stand. We believe diversity is a strength and that we and our clients benefit from a workforce that supports and draws on a range of backgrounds, viewpoints, experiences, and identities. We do not accept discrimination of any kind. We stand firmly in support of the daunting challenge to bring racial equity, and we recognize that racism exists overtly and in subtle persistent ways that break hearts and destroy lives.
We believe a society that provides equal and fair opportunities is not only our moral obligation but is also in our collective interest. Given our country’s history, it may at times seem difficult to achieve the positive change that will move us closer to that goal. In support of what we strongly believe is a collective interest and responsibility for the community and broader world we all live in together, we must find ways to do so.
We are each individually stronger if everyone is stronger, and we join the effort to work toward a better, more just world.
—Steve Savage, CEO
Actions to Take in Uncertain Times
In a volatile environment like the one we find ourselves in today, and experienced just two years ago in 2020, we recognize that some investors feel as though they should make changes in their portfolios—even if just to take action.
Research Update on Market Volatility
Given the renewed market downturn, fed by high uncertainty around inflation and the war in Ukraine, we want to share our most-current views and portfolio positioning with clients and followers of our research.
Commentary from Our CIO—First Quarter 2022
In this commentary, we highlight key developments in the global economy and financial markets. The biggest macro event was Russia’s brutal invasion of Ukraine. As is our job, our focus is on the economic and financial market impact of this event. Clearly, the human impact has been devastating and tragic, and our hearts and support are with the Ukrainian people.