Dear Friends and Family,

Thanks to those who didn’t panic during June’s 500-point Dow drop. No calls = confidence. We’ll reach out if action is needed.

Key observations:

• Rising interest rates aren’t always bad for stocks
• Company fundamentals matter more
• The Dow may outperform the S&P in some cycles
• Great companies outperform interest rate shifts

We believe we’ve entered a new rising rate cycle—our portfolios are prepared for multiple outcomes.
Team Update: Please welcome Aly Katz to our Alexandria office. The WA office will relocate soon. All calls now route through 301.961.6030 or toll-free 800.961.6085.

Sincerely,

Katz Family Financial