This year's three straight quarters of declines in stocks and bonds is unusual and could have an impact on future association initiativesThe stock and bond markets are falling together this year to a degree reminiscent of the great financial crisis—but that isn't necessarily triggering big changes in how associations handle investments in their reserves. However, cuts in new initiatives could be coming.The S&P 500 index of stocks has dropped as much as 25% year-to-date. A broad, investment-grade U.S. bond-market index has declined about 15%. A typical balanced portfolio tracking the performance of the two would be having its worst year since 2008.The Society of… Read More