Callan Family Office 1Q 2025 Investor Letter

The current volatility in the public markets has justifiably caused some concern among investors. Over the past several weeks, equity investors have had to contend with concerns about valuations in technology stocks, the impact and confusion over tariff policies, and a debate over whether economic indicators now suggest recession.

It is not surprising that all of this leads to some disruption in the markets, but history shows us that, in most cases, what seems like a catastrophe in the short term is most often easily digestible and ultimately forgettable.

We recently issued our first quarter investment letter, which addresses our thinking about the current market environment. In short, we understand the caution among investors, but we do not see evidence we are headed toward a recession, nor even a bear market in equities, though technology stocks, which have had a remarkable run over the past few years, may face some more headwinds.

As always, we advocate for broadly diversified portfolios to include fixed income, hedge funds, real assets and private markets where rebalancing is a routine behavior. Consequently, these portfolios can weather headline-grabbing equity storms. 

Please reach out your relationship team for more information.

For our latest insights, please read our 1Q Investor Letter.