The S&P 500 Index extended its losing streak to three consecutive weeks, the longest since October 2022. Market volatility has been on the rise, driven by a mix of factors, including high expectations and valuations for a handful of mega-cap U.S. companies, concerns over tariffs and their impact on economic growth and inflation, declining consumer and investor confidence, and persistently high interest rates.
While market fluctuations can be unsettling, history has shown that downturns are a normal aspect of investing, and markets have consistently rebounded over time. Investors who stayed committed to their long-term plans rather than reacting to short-term volatility benefited from these recoveries.
During election years, market volatility tends to follow historical patterns. Since 1950, the average maximum drawdown for the S&P 500 in election years has been 12.8%; a reminder that fluctuations are part of the investing journey. Given the current economic, political, and geopolitical uncertainties, along with seasonal market trends, we may still experience similar declines. However, this volatility is normal, much like a necessary toll on the road to achieving attractive long-term results.
As Bryan Ballentine emphasizes in his book Wealth on Purpose, maintaining discipline and avoiding emotional reactions to short-term market movements is key to long-term success. Investors are best served by sticking to their strategies rather than following the herd mentality that often drives market swings. By remaining focused on their financial goals and avoiding impulsive decisions, investors can navigate uncertainty with confidence.
Ballentine highlights how emotional reactions can lead to suboptimal investment decisions. The tendency to sell assets during market downturns out of fear can result in locking in losses, while overconfidence during bull markets may lead to excessive risk-taking. Understanding these behavioral biases is crucial for making rational decisions aligned with financial goals. A structured investment plan that accounts for risk tolerance, time horizon, and market conditions can help reduce impulsive actions during volatility.
Investors who take a long-term approach and maintain a diversified portfolio are better positioned to weather market fluctuations. Dollar-cost averaging, which involves consistent investments over time, can help mitigate the impact of short-term swings while promoting steady financial growth. Tax-efficient strategies such as tax-loss harvesting, Roth IRA conversions, and maximizing contributions to tax-advantaged accounts further strengthen an investment strategy while minimizing unnecessary tax burdens.
We are committed to helping you stay focused on your long-term investment plan. Market volatility is inevitable, but by staying disciplined, avoiding emotional decisions, and focusing on the bigger picture, you can navigate fluctuations with confidence. If you have any questions about your portfolio or investment strategy, give us a call today.
Sources located at the bottom of the article
Golf Tip of the Week
Improve Your Chipping with These Two Simple Adjustments
If you’re looking to sharpen your short game, a great place to start is with your setup. Many golfers make the mistake of using the same stance and grip for chipping as they do for full swings, which can lead to oversized backswings and a loss of control through impact.
According to golf instructor Sara Dickson, one of the most common issues is taking too big of a backswing, which forces a deceleration on the downswing—resulting in poor contact. By making two small but effective changes to your stance and grip, you can improve your consistency around the greens.
Two Key Setup Adjustments for Better Chipping
- Narrow Your Stance – Position your feet about one clubhead width apart. A narrower stance reduces excess movement and prevents an overextended backswing, helping you keep control of the shot.
- Grip Lower on the Club – Move your hands closer to the bottom of the grip to gain more precision and control over the club. A shorter grip naturally limits the length of your swing, reducing the risk of deceleration and improving contact.
With these adjustments, your backswing should reach about hip height, and your follow-through should finish at the same level. Keeping your motion compact and controlled will help prevent deceleration, leading to cleaner, more consistent chip shots.
By refining your setup and swing mechanics, you can build confidence around the greens and improve your short game—one chip at a time.
Golf Tip adapted from Golf Digest. Read the full article here: How making these 2 key changes can fix your chipping, quickly
Recipe of the Week
Quick & Comforting Chicken Pot Pie
Ingredients
- AP flour, to roll dough, plus a couple round tablespoons for filling/sauce
- 1 pack puff pastry dough, DuFour preferred brand
- 1 large egg
- 1 onion
- 1 small to medium potato
- 2 small ribs celery with leafy tops
- 1 carrot
- 1 leek
- 1 apple, such as Gala or Honeycrisp
- 3 tablespoons butter
- 1 large fresh bay leaf
- A small bundle of parsley and thyme, tied
- Salt and white pepper or fine black pepper
- A little freshly grated nutmeg, 1/8 teaspoon
- About 3 cups chicken stock
- 1 rotisserie chicken, about 3 pounds
- 2 teaspoons Dijon mustard
- About a tablespoon of heavy cream or creme fraiche
- Juice of 1/2 a lemon
Directions
- Preheat the oven to 375°F and position the oven rack one level above the center.
- Prepare the pastry dough by lightly flouring a work surface and rolling out the dough slightly. Cut it into 4 to 6 portions, shaping them as desired. Use a small cookie cutter or knife to create a vent in the center of each piece.
- Make an egg wash by beating an egg with a small amount of water in a dish. Line a baking sheet with parchment paper, arrange the dough pieces on it, and brush them with the egg wash. Bake for 20 to 22 minutes, or until the pastry is golden and puffed.
- Prepare the vegetables by peeling and chopping the onion and potato. Slice the celery and carrot lengthwise and chop them into small pieces. Trim the tough green parts from the leek, rinse thoroughly under cold water to remove grit, then slice thinly. Remove the core from the apple, slice it into planks, stack, and dice into ¼-inch cubes.
- Cook the vegetables by heating a large Dutch oven or deep skillet over medium to medium-high heat. Melt the butter, and once it starts to foam, add the onion, potato, celery, leek, apple, bay leaf, and tied parsley-thyme bundle. Season with salt, pepper, and nutmeg. Cook, partially covered, for 8 to 10 minutes, stirring occasionally to soften the vegetables.
- Thicken the sauce by sprinkling in a small amount of flour, stirring for about a minute. Gradually whisk in the chicken stock, allowing the mixture to thicken slightly.
- Prepare the chicken by removing the meat from the rotisserie chicken, discarding the skin and bones. Shred or pull the meat into bite-sized pieces and add it to the sauce, stirring until heated through.
- Finish the dish by removing the bay leaf and herb bundle. Stir in Dijon mustard, a splash of heavy cream (or crème fraîche), and fresh lemon juice.
- Serve by ladling the chicken and vegetable mixture into bowls and topping each with a piece of the baked pastry.
Tip: If short on time, store-bought buttermilk biscuits can be warmed and split to serve in place of the puff pastry. Also, remember to defrost frozen puff pastry in the refrigerator at least 2 hours before preparing the meal.
Recipe Tip adapted from Food Network. Read the full article here: Quick Rotisserie Chicken Pot Pies
Travel Tip of the Week
Why Litchfield Beach Could Be Your Ideal Retirement Destination
If you’re dreaming of retiring in a coastal South Carolina town but want to avoid the high cost of living in the Charleston area, Litchfield Beach could be the perfect fit. This charming community offers a relaxed seaside lifestyle and is conveniently located about 90 minutes from Charleston and just a few miles north of Pawleys Island, home to one of the state’s most beautiful beaches.
Compared to Charleston, where median home prices reach around $650,000, Litchfield Beach provides a more affordable option, with Georgetown County’s median home value sitting at approximately $262,300. Along with a lower cost of living, the area boasts a strong healthcare network, with 27 hospitals and 185 healthcare facilities nearby.
Litchfield Beach’s expansive shoreline is another highlight, offering an ideal setting for relaxing walks, fresh ocean air, and swimming when the weather is warm. Whether you’re looking for a quieter coastal retreat or a budget-friendly alternative to Charleston, Litchfield Beach delivers a scenic and accessible retirement destination.
Travel Tip adapted from Travel + Leisure. Read the full article here: 10 Best Places to Retire in the Southeast—Including the ‘Friendliest Town in the South’
Copyright © 2025. Ballentine Capital Advisors. All rights reserved.
Sources:
- Don’t Expect Trump or Powell to Bail Out Investors This Time as Stock Market Hits ‘Danger Zone’
- Ballentine, B. (2023) Wealth on Purpose: Your Path to Grow, Protect, and Keep Real Wealth
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Please review Ballentine Capital Advisors Disclosure Brochure for a complete explanation of fees. Investing involves risks. Investments are not guaranteed and may lose value.
This material is prepared by Ballentine Capital Advisors for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation or any particular security, strategy, or investment product.
No representation is being made that any account will or is likely to achieve future profits or losses similar to those shown. You should not assume that investment decisions we make in the future will be profitable or equal the investment performance of the past. Past performance does not indicate future results.
