PWM Perspectives provides valuable insights into market dynamics, investment opportunities through Q Wealth, and key financial indicators. We are committed to keeping you informed with timely updates from PWM Private Wealth Counsel and Q Wealth Partners, our partner portfolio management firm.
Every market cycle tells a story, and 2025 has been a masterclass in resilience. From sharp corrections to record highs, this year reinforced a timeless truth: wealth isn’t built in moments of certainty, but in how we navigate uncertainty. Just as seasons change, markets move through highs, volatility, and recovery. The key is remembering that every winter gives way to spring, and volatility and downturns, to growth.
One of the most important lessons of 2025 has been the value of staying invested. Despite a sharp correction in April, when the broad US equity indices declined nearly 19% (US markets actually went -20% intraday at one point in the month), investors who held their positions have been rewarded.
As we approach year-end, all major equity categories have posted solid gains, highlighting the importance of patience and perspective. The chart below clearly illustrates this point.
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What the above shows is that those who sold at the April lows, during the peak of tariff uncertainty and market reaction, realized losses, while disciplined investors benefited from the subsequent rebound. This pattern is not unique to 2025. In fact, it’s a recurring theme throughout market history.
Predicting what will happen during a downturn can be really tricky; it's almost as difficult as trying to know in advance when the downturn will start. When stocks are dropping, it often feels like you're too late to sell or too early to buy. It can feel the same when stocks are hitting all-time highs week after week (which has also happened in 2025).
Time-tested principles can still help us win the day. A recent investment book talks about “just keep buying” – investing on a regular schedule, dollar cost averaging through the bull and bear markets. And simple diversification – choose an asset allocation that you’re comfortable sticking with, whether stocks are climbing, falling, or staying flat, because, inevitably, they’ll do all of those things.
Market history is filled with examples where patience has paid off. Over the past 50 years, the S&P 500 has experienced numerous corrections and bear markets, yet the long-term trend remains upward. Consider these averages:
- Average recovery time after a 10% correction: roughly 4 months.
- Average recovery time after a 20% bear market: about 22 months.
- Missing just the 10 best days in the market over 20 years can cut your returns by more than 50%.
These numbers highlight a simple truth: timing the market is nearly impossible, but time in the market is what builds wealth. As a further example, the chart below shows that staying fully invested in the S&P 500 over the long term has led to much higher returns than trying to time the market.
As an overview of the chart above, a $1 investment in the S&P 500 since 1950 (through November 17, 2025) would have grown to $400. However, missing the best 50 days would have reduced the final amount to $28. The impact is even greater when missing the best 100 days, when the $1 investment would have grown to only $5.
Why does this matter as we approach 2026? Because we’ve been seeing lots of news about all-time highs and reports of a potential market bubble, especially around AI and tech companies. We had some volatility and selloff in November, too. Ultimately, volatility is unavoidable, but how you respond to it shapes your outcome.
Selling during downturns often seems like the safest move, yet history shows it’s the costliest mistake. Diversifying across asset classes and maintaining a disciplined rebalancing approach are key to long-term success. At Q Wealth Partners, our focus is on building strategies that can better withstand short-term turbulence (stay invested!) while positioning for sustainable growth that can align with your risk profile and financial plan needs.
As we wrap up 2025, the entire PWM team wants to extend our warmest wishes to you and your family. May this holiday season bring peace, joy, and time well spent with loved ones. Merry Christmas and Happy New Year from all of us to you and yours.
Welcome to PWM!
At PWM, we believe that our people are the foundation of our success, and we’re thrilled to introduce the newest members of our growing team. Each brings unique skills, fresh perspectives, and a shared commitment to delivering exceptional service to our clients. Join us in giving them a warm welcome as they embark on this exciting journey with us.
Brandon Donsberger, CPA
Tax & Accounting Manager, PWM Tax & Accounting Services
Brandon joined PWM to deepen the integration between investment, financial, tax, and insurance planning. With experience in accounting public practice where he obtained his CPA and in advising ultra-high-net-worth clients through a boutique firm specializing in advanced insurance and estate strategies, he “speaks the same language” as clients’ personal advisors. Brandon is deeply aligned with the Multi-Family Office model PWM is building - one that brings every professional together to deliver coordinated, purpose-driven advice. His insight ensures every plan flows efficiently, from field to ledger, connecting wealth strategy to real-world implementation.
Dillan Poulsen, B.Comm.
Client Experience Associate, PWM Private Wealth Counsel
Dillan joined PWM as a Edwards School of Business Graduate with a passion for helping people build a successful portfolio. He graduated with Distinction and was on the Honour Roll throughout all four years of his schooling. He is currently working towards obtaining his CSC designation with plans to get his CIM designation in the near future. Dillan is currently working in an admin role as a Client Experience Associate where he helps prepare paperwork for existing clients and for new potential clients looking at joining PWM. His day-to-day tasks ensure client onboarding for prospects and portfolio reviews for existing clients go as smoothly and efficiently as possible.
