FOUNDED IN 1928
Andrew Jones Kilpatrick (Uncle Jonnie) and Warren Bothwell formed Bothwell & Kilpatrick in 1928 to offer stocks and bonds as investments to the people of Augusta. The firm was renamed A.J. Kilpatrick Jr. in 1949 when Warren Bothwell passed away. On May 1st,1962, Uncle Jonnie’s nephew, Richard Cree Kilpatrick, joined the brokerage business and A.J. Kilpatrick & Company was formed. Jonnie passed away in 1978, but the firm continued as a mainstay in downtown Augusta. In 1994, A.J. Kilpatrick & Co. joined A.G. Edwards, which was bought by Wells Fargo in 2007. In 2005, Thomas Duncan Kilpatrick joined his father, Richard, at A.G. Edwards as the third generation Kilpatrick in the financial services industry, and because of his commitment to providing objective financial advice, realigned with LPL Financial in 2009. Today, A.J.Kilpatrick is focused on serving Augusta’s people with the integrity and dedication of their founders, and the future vision of their thriving community.
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Happening Now
New Year, Same Bull Market? | Weekly Market Commentary | January 13, 2025
As the new year officially gets underway, there’s the usual sense of renewed optimism and excitement over new opportunities.
Evaluating Stock and Bond Market Predictions From 2024 | Weekly Market Commentary | January 6, 2025
With 2024 fully behind us, it’s a good time to celebrate our winning calls from last year while also reviewing some mistakes to learn from them and improve our process. The good news is we got more right than wrong last year, but there were some misses. Some course corrections helped. Perhaps the most impactful decision we made was to recommend investors stay fully invested in equities at benchmark levels throughout the entire year despite expecting a stock market pullback around Election Day.
Keys to Stock Market Gains in 2025 | Weekly Market Commentary | December 30, 2024
As 2024 draws to a close, investors have fully embraced the stock market. The S&P 500 is up more than 25% year to date. The broader Russell 3000 Index is up 24%. The Nasdaq Composite is up over 31%. Even the laggards are up double-digits with 12% and 14% advances for the small cap Russell 2000 and the Dow Jones Industrial Average. Volatility was low, with a maximum peak-to-trough decline for the S&P 500 of 8.5% (the long-term average max drawdown is over 13%). As we turn our attention to 2025, the supports of the past year largely remain in place, but some additional pillars have been added as we discuss below.
The Fed Resets Expectations for Next Year | Weekly Market Commentary | December 23, 2024
The Federal Reserve (Fed) is moving more cautiously in adjusting policy, and markets might have a hard time resetting expectations. Throughout the latest press conference with Fed Chair Jerome Powell, equity markets declined as investors were befuddled with the large upward revision to 2025 inflation forecasts; despite disappointing inflation projections, the “vibecession” is over as businesses and consumers have become more optimistic.
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