July 2026 Client Question of the Month — Principles For Long-Term Investing | Winthrop Wealth
By Andrew Murphy, CFA
Co-Chief Investment Officer
Learn the timeless principles that help investors navigate volatility, avoid market timing, and build long-term wealth through discipline and diversification.
This material is provided for informational and educational purposes only and should not be construed as individualized investment, tax, legal, or financial planning advice.
The information is not intended as a recommendation to buy, sell, or hold any security, investment strategy, or asset class, and should not be relied upon as the sole basis for making investment decisions. Investors should consult with their financial, tax, and legal professionals regarding their individual circumstances before making any investment decision.
The views expressed are based on market and economic conditions as of the date of publication and are subject to change without notice. Forward-looking statements, market commentary, opinions, and expectations may not develop as anticipated. There can be no assurance that any investment strategy, planning approach, or market expectation discussed will be successful.
Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. Investment returns and principal values will fluctuate, and investors may experience gains or losses. No investment strategy, asset allocation, or planning technique can guarantee a profit, prevent a loss, or eliminate market risk.
All indexes mentioned are unmanaged indexes which cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. Past performance is no guarantee of future results.
Unless otherwise noted, charts, examples, and statistics are based on historical market data from sources believed to be reliable, including Bloomberg and other third-party sources identified in the piece. Winthrop Wealth has not independently verified all third-party data and does not guarantee its accuracy or completeness.
Certain charts and examples use historical index data to illustrate general investment concepts, including long-term market growth, market volatility, market timing, diversification, rolling returns, compounding, cash flow planning, and investing during or after market declines. Some examples may reflect hypothetical or illustrative scenarios because they apply assumptions, timing rules, hindsight-based market periods, or index-based calculations that were not actually achieved by any client account or specific investment strategy.
Hypothetical and illustrative results are provided solely to demonstrate investment principles and should not be interpreted as actual client performance, projected performance, or a guarantee of future results. Hypothetical results have inherent limitations, may be prepared with the benefit of hindsight, and may not reflect the impact of real-world investment constraints, investor behavior, market liquidity, portfolio changes, advisory fees, trading costs, taxes, expenses, or other factors that would reduce returns. Actual results will vary.
Index returns are unmanaged and cannot be invested in directly. Index performance does not reflect the deduction of advisory fees, transaction costs, taxes, expenses, or other charges, all of which would reduce returns. Indexes are used for illustrative and comparative purposes only and may not be representative of any client portfolio or investment strategy.
Asset allocation and diversification are intended to manage risk but do not ensure a profit or protect against loss. A diversified portfolio may not outperform a non-diversified portfolio, and diversification does not protect against market risk. Rebalancing, tax-loss harvesting, and other portfolio management techniques may involve costs, tax consequences, or other considerations and may not be appropriate for all investors.
Financial planning is intended to review a client’s current financial situation, investment objectives, risk tolerance, time horizon, and goals, and to suggest potential planning ideas and concepts that may be beneficial. There is no guarantee that financial planning will help a client reach any particular goal. Winthrop Wealth’s Total Net Worth Approach applies only to clients who receive both comprehensive financial planning and investment management services under agreement.
DALBAR’s Quantitative Analysis of Investor Behavior (QAIB) study examines investor returns using mutual fund sales, redemptions, and exchanges. DALBAR’s methodology and findings are provided by DALBAR, Inc. and are included for informational purposes only. The average investor results shown in the piece do not represent the performance of any Winthrop Wealth client account or investment strategy.
< COMMENTARY
Client Questions | July 24, 2026
July 2026 Client Question of the Month — Principles For Long-Term Investing | Winthrop Wealth
By Andrew Murphy, CFA
Co-Chief Investment Officer
Learn the timeless principles that help investors navigate volatility, avoid market timing, and build long-term wealth through discipline and diversification.
DISCLOSURES
This material is provided for informational and educational purposes only and should not be construed as individualized investment, tax, legal, or financial planning advice.
The information is not intended as a recommendation to buy, sell, or hold any security, investment strategy, or asset class, and should not be relied upon as the sole basis for making investment decisions. Investors should consult with their financial, tax, and legal professionals regarding their individual circumstances before making any investment decision.
The views expressed are based on market and economic conditions as of the date of publication and are subject to change without notice. Forward-looking statements, market commentary, opinions, and expectations may not develop as anticipated. There can be no assurance that any investment strategy, planning approach, or market expectation discussed will be successful.
Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. Investment returns and principal values will fluctuate, and investors may experience gains or losses. No investment strategy, asset allocation, or planning technique can guarantee a profit, prevent a loss, or eliminate market risk.
All indexes mentioned are unmanaged indexes which cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. Past performance is no guarantee of future results.
Unless otherwise noted, charts, examples, and statistics are based on historical market data from sources believed to be reliable, including Bloomberg and other third-party sources identified in the piece. Winthrop Wealth has not independently verified all third-party data and does not guarantee its accuracy or completeness.
Certain charts and examples use historical index data to illustrate general investment concepts, including long-term market growth, market volatility, market timing, diversification, rolling returns, compounding, cash flow planning, and investing during or after market declines. Some examples may reflect hypothetical or illustrative scenarios because they apply assumptions, timing rules, hindsight-based market periods, or index-based calculations that were not actually achieved by any client account or specific investment strategy.
Hypothetical and illustrative results are provided solely to demonstrate investment principles and should not be interpreted as actual client performance, projected performance, or a guarantee of future results. Hypothetical results have inherent limitations, may be prepared with the benefit of hindsight, and may not reflect the impact of real-world investment constraints, investor behavior, market liquidity, portfolio changes, advisory fees, trading costs, taxes, expenses, or other factors that would reduce returns. Actual results will vary.
Index returns are unmanaged and cannot be invested in directly. Index performance does not reflect the deduction of advisory fees, transaction costs, taxes, expenses, or other charges, all of which would reduce returns. Indexes are used for illustrative and comparative purposes only and may not be representative of any client portfolio or investment strategy.
Asset allocation and diversification are intended to manage risk but do not ensure a profit or protect against loss. A diversified portfolio may not outperform a non-diversified portfolio, and diversification does not protect against market risk. Rebalancing, tax-loss harvesting, and other portfolio management techniques may involve costs, tax consequences, or other considerations and may not be appropriate for all investors.
Financial planning is intended to review a client’s current financial situation, investment objectives, risk tolerance, time horizon, and goals, and to suggest potential planning ideas and concepts that may be beneficial. There is no guarantee that financial planning will help a client reach any particular goal. Winthrop Wealth’s Total Net Worth Approach applies only to clients who receive both comprehensive financial planning and investment management services under agreement.
DALBAR’s Quantitative Analysis of Investor Behavior (QAIB) study examines investor returns using mutual fund sales, redemptions, and exchanges. DALBAR’s methodology and findings are provided by DALBAR, Inc. and are included for informational purposes only. The average investor results shown in the piece do not represent the performance of any Winthrop Wealth client account or investment strategy.