On January 27, 2022, UMF investment advisor Jim Lumberg of SouthCol Advisors, LLC, presented the fourth quarter market review, “Focused on the Fed.”
Read the Q4 2021 Investor Letter here.
| Segment Time | Segment Content |
| 00:00 – 00:06 | Introduction |
| 00:06 – 01:34 | Stock Markets Year to Date 2022 |
| 01:34 – 01:52 | S&P 500 Sector Performance |
| 01:52 – 03:12 | Domestic vs. International Equities |
| 03:12 – 05:04 | S&P 500 Index: Trailing 180 Days |
| 05:04 – 06:56 | S&P 500 Max Drowdowns and Calendar Year Returns (%) |
| 06:56 – 07:10 | Focused on the Fed (cartoon) |
| 07:10 – 08:38 | The Fed’s Influence on the Economy |
| 08:38 – 09:49 | Manipulating Short Term Interest Rates |
| 09:49 – 10:22 | Short-Term Interest Rate vs. Fed Funds Rate |
| 10:22 – 11:10 | Open Market Operations |
| 11:10 – 12:56 | Open Market Operations: Ballooning Balance Sheet (trillions) |
| 12:56 – 13:16 | Bonds: 10-year Treasury Yield – Trailing 180 Days |
| 13:16 – 14:51 | S&P 500 Performance in Fed Rate-Hike Cycles |