| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| - | - | - |
Oujo Wealth Strategies takes a cautious, valuation-focused stance in Q2 2026. While acknowledging strong company earnings as the primary market driver, the manager notes that the S&P 500 at 7,500 has already priced in 2027 earnings expectations, offering a 5.13% earnings yield only modestly above the 4.46% 10-year treasury. This compressed spread limits upside at current levels. The Fed has maintained rates at 3.75% as core PCE inflation remains elevated at 3.4%, constraining monetary policy flexibility. Top-performing areas have been value, small cap, international, and mid cap equities, while growth has lagged. The manager sees fewer opportunities in large cap US equities but identifies value in international markets, mid caps, and small caps. Fixed income is viewed favorably given prevailing yields and potential defensive characteristics. The strategy emphasizes diversification, patience, and waiting for market corrections to buy at attractive prices. Positioning reflects a selective, opportunistic approach rather than aggressive deployment, with focus on areas offering better relative value in an expensive overall market environment.
The manager advocates a selective, valuation-driven approach in a market that has priced in strong future earnings. With the S&P 500 trading at levels that reflect 2027 earnings expectations and offering limited spread over treasury yields, opportunities are concentrated in less expensive segments including international equities, mid caps, and small caps. Fixed income offers attractive yields in a normalized rate environment. The strategy emphasizes diversification, patience, and waiting for market corrections to deploy capital at more attractive valuations.
The manager maintains a selective, valuation-conscious stance. While acknowledging strong earnings and a healthy economic backdrop, they note that the S&P 500 has already priced in 2027 earnings at current levels. They are looking for opportunities to buy areas of the market at attractive prices, particularly in international equities, mid caps, and small caps where valuations are more compelling. Fixed income is viewed favorably given current yield levels. The tone is patient and opportunistic rather than aggressively bullish.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Jul 6 2026 | 2026 Q2 | - | earnings, fixed income, inflation, interest rates, small caps, valuation, value | - | Oujo Wealth Strategies maintains a selective, valuation-conscious stance as the S&P 500 has priced in 2027 earnings with limited spread over treasuries. Strong earnings have driven markets but opportunities are scarce at current levels. The manager favors international equities, mid caps, and small caps over expensive large cap US stocks, while viewing fixed income favorably. Strategy emphasizes patience and waiting for corrections to deploy capital at attractive valuations. |
| Apr 6 2026 | 2026 Q1 | - | diversification, Fed policy, fixed income, geopolitics, volatility | - | Oujo Wealth Strategies advocates diversification as the primary defense against 2026 market volatility caused by Iran conflict and Fed policy uncertainty. The firm maintains balanced exposure across growth, value, and international markets while welcoming corrections as buying opportunities. S&P 500 valuations appear reasonable despite geopolitical headwinds affecting investor sentiment. |
| Jan 8 2026 | 2025 Q4 | - | asset allocation, dividends, Fed policy, fixed income, growth, rebalancing, small caps, valuation | - | Oujo Wealth delivered strong 2025 returns across risk levels through disciplined asset allocation. The firm remains cautiously optimistic for 2026, balancing dividend payers, growth stocks, and fixed income. Current equity valuations offer limited risk premium over bonds, but no major moves planned unless market corrections create rebalancing opportunities in undervalued small caps. |
| Oct 8 2025 | 2025 Q3 | - | dividends, Fed policy, fixed income, rates, small caps, Valuations | - | Oujo Wealth Strategies reports strong 2025 performance across asset classes with the S&P 500 reaching 6,700. The firm maintains cautious optimism, shifting slightly toward fixed income given attractive yields while favoring dividend payers and smaller caps positioned to benefit from potential rate cuts. Market valuations remain reasonable despite elevated levels. |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2026 Q2 |
EarningsCompany earnings have been strong across the board and are the primary driver of market performance in 2026. The S&P 500 is trading at approximately 4.53% earnings yield for 2026 and 5.13% for 2027 estimates, with the market having already priced in next year's earnings expectations at current levels. |
Earnings Valuation S&P 500 |
RatesThe Fed has maintained its overnight rate at 3.75%, down from 4.5% a year earlier, but has not been able to drastically reduce rates due to slightly high inflation and neutral employment data. The 10-year treasury sits at 4.46% and the 30-year at 4.96%, representing a more normal interest rate environment overall. |
Interest Rates Fed Treasury | |
InflationCore PCE inflation came in at 3.4% in May 2026, which is the Fed's preferred measure and remains much higher than their target. This elevated inflation is a primary reason the Fed has been unable to significantly reduce rates and would need to see dramatic reduction before meaningful rate cuts occur. |
Inflation PCE Fed Policy | |
Small CapsSmall cap equities have been among the top performing areas in 2026 and are identified as an area where the manager sees opportunities at current market levels. The manager views small caps as offering better value compared to large cap equities. |
Small Cap Valuation Opportunities | |
ValueValue equities have been a top performing area in the equity market so far in 2026, while growth equities have lagged. The manager is looking for opportunities to buy areas of the market at attractive prices, suggesting a value-oriented approach. |
Value Growth Performance | |
| 2026 Q1 |
DiversificationThe manager emphasizes diversification as key to portfolio resilience in 2026, advocating for balanced exposure across growth, value, small cap, mid cap, and international equities rather than overweighting any single area. |
Balance Risk Management Asset Allocation Portfolio Construction |
VolatilityMarket volatility has dominated 2026 due to geopolitical uncertainty from the Iran conflict, with growth equities hit hardest while value and international markets remained relatively flat. |
Market Stress Uncertainty Geopolitical Risk | |
| 2025 Q4 |
DividendsDividend paying equities performed very well in 2025 and paid dividends at higher rates due to elevated interest rates. The firm views dividend payers as fairly valued with continuing earnings growth and attractive dividend rates, making them a core portfolio component for income generation. |
Income Yield Equity Income |
AIGrowth/tech/AI area had elevated valuations but continued to power through due to optimism around companies rapidly expanding capital investments. Large Cap Growth positions with AI exposure have been highest performers in portfolios, though valuations remain a concern. |
Technology Growth Valuations | |
RatesFederal Reserve decreased rates from 4.5% to 3.75% throughout 2025. Fixed income performance was positive across the board with strong income generation. The firm likes mid to longer term fixed income to lock in rates, expecting limited rate increases given current inflation and dovish Fed leadership. |
Federal Reserve Fixed Income Monetary Policy | |
Small CapsMid and small caps have lower valuations and haven't performed as well as other areas but the firm sees opportunity. They have some exposure but aren't overweight. Historically small cap stocks outperform large caps over the long-term but with more volatility. |
Valuation Opportunity Underperformance | |
| 2025 Q3 |
DividendsDividend payers have performed well and paid their dividends. The firm views dividend-paying stocks as attractive investments with fair valuations and strong holdings for retiree income. |
Income Yields Retirees Valuations Performance |
RatesThe Federal Reserve has made only one minor cut this year despite pressure from the Trump administration. The firm expects more rate cuts would require negative employment data, weaker consumer sentiment, low inflation, and manufacturing softness. |
Fed Cuts Employment Inflation Manufacturing |
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