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Pacific Capital Associates

Financial Advisors in San Diego, CA

  • About
  • Investing
    • Investment Management
    • Risk Analysis
    • GMO Climate Change Fund
  • Financial Planning
  • Insights
  • Client Login
  • Schedule A Call

Investment Insights

January 29, 2021 By Rich Toscano

A major bubble in growth stocks

January 28, 2021: Stock markets have been surging higher, and our favored areas (international and emerging value stocks) really outperformed last quarter. But looking at the whole of 2020, the real craziness took place in growth stocks. In fact, we believe that US growth stocks have become a …

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October 29, 2020 By Victoria Hooker

The investment impact of the election

October 29, 2020 We’ve been getting a lot of questions about the election and its potential impact on the stock market, so we wanted to write some thoughts on the topic. To begin with, we should mention that we have very low exposure to US stocks. This has nothing to do with the election, and …

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July 24, 2020 By Rich Toscano

From fear to greed in four months

July 24, 2020 The world continues to grapple with the Covid-19 pandemic, but you wouldn’t know it by looking at financial markets. The recent cheerful market mood is a huge turnaround from the complete panic and despair that reigned just four months ago.During the panic, we were adding to our stock …

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May 25, 2020 By PCA

Feelings vs. reason: what’s in control?

May 25, 2020 Excerpted from a letter to clients sent on May 14, 2020. Anyone can sign up for our quarterly updates here. “When it comes time to buy, you won’t want to.” Doug Kass In mid-March, it was pretty clear to all that COVID-19 was going to be a disaster for many people …

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April 3, 2020 By PCA

Stock prices, values, and return forecasts (better than 2009, in some cases)

April 3, 2020 In our last letter, we explained why we think the pandemic seems unlikely to significantly alter the stock market’s fair value. To very briefly recap: Stocks represent ownership of a long-term stream of future earnings. The “fair value” of the stock market is the …

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March 26, 2020 By PCA

A bad economy doesn’t make stocks a bad investment (plus: government/Fed stimulus update)

March 26, 2020 Excerpted from a letter to clients sent on March 26, 2020. Anyone can sign up for our quarterly updates here. We hope you are staying healthy and safe. We have thoughts to share on several topics, but in the interest of not overwhelming you, we’ll break it up into a few …

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March 13, 2020 By PCA

Market update: our outlook, what we’re doing, and reflections on past panics

March 13, 2020 Excerpted from a letter to clients written the evening of March 12, 2020. Anyone can sign up for our quarterly updates here. We'd first like to express our concern for the health of our clients, families, and friends. The situation has escalated and we know that this is …

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February 5, 2020 By PCA

All time highs are nothing to fear (plus virus scares, and the importance of knowing where you stand)

February 5, 2020 After a year of sizable gains, the global stock market has dropped about 3.5% since news of the virus outbreak in China came to light.(1) We'll discuss the virus scare momentarily, but first we want to share some thoughts on another worry we had recently been hearing a …

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October 25, 2019 By PCA

The best opportunity for value investors in 20 years

October 25, 2019 Over the past decade, stock markets have drifted far from their typical behavior in several ways. There is a big opportunity at hand if markets should end up moving back towards normal as they generally have in the past. This idea is known as “mean reversion” in …

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August 6, 2019 By PCA

San Diego housing: measuring valuations, the role of rates, and whether to buy now

August 6, 2019 Excerpted from a letter to clients sent August 1, 2019. Anyone can sign up for our quarterly updates here. Measuring housing expensiveness We all know that buying a home in San Diego costs a lot more than in most cities. But that's always been the case, and …

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4747 Viewridge Ave
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San Diego, CA 92123




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Pacific Capital Associates, Inc. is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Pacific Capital Associates, Inc. and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. No advice may be rendered by Pacific Capital Associates, Inc. unless a client service agreement is in place.

The commentary on this website reflects the personal opinions, viewpoints, and analyses of the Pacific Capital Associates, Inc. employees providing such comments, and should not be regarded as a description of advisory services provided by Pacific Capital Associates, Inc. or performance returns of any Pacific Capital Associates, Inc. investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data, or any recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Pacific Capital Associates, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

Pacific Capital Associates, Inc. provides links for your convenience to websites produced by other providers or industry related material. Accessing websites through links directs you away from our website. Pacific Capital Associates, Inc. is not responsible for errors or omissions in the material on third party websites, and does not necessarily approve of or endorse the information provided. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites.

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