Newsletter Q3 2023

Shorepoint remains constructive on the equity markets but stingy on what we want to pay for stocks, particularly with money market funds paying over 5% and stocks trading at a premium to historical averages. We have reduced our equity allocation in growth portfolios and added to cash. We continue to add to higher-quality dividend-paying stocks that have underperformed this year. Shorepoint’s investment approach is contrarian, so we are gradually adding to attractively valued, underperforming stocks/sectors and taking profits/trimming some past winners. We also continue to perform tax loss harvesting in this volatile market which minimizing capital gains for clients in 2023 and potentially in future years.