Blake Asset Management Struggles Are Representative of Erratic U.S. Markets
Club tries to maintain normalcy despite meeting virtually
The recent plunging stock market has sparked new conversations at Blake Asset Management’s online meetings.
As a recession looms, Blake Upper School’s BAM (Blake Asset Management) have made serious adaptations in the transition to online learning.
The open schedule on Fridays has allowed the club to continue its practice of weekly meetings by way of Zoom. But one drawback of the club is that during times of great volatility in the stock market, quick decision making is very hard to come by.
According to the Kellogg School of Northwestern, total volatility in U.S. markets exceeds that of the 2008 Global Financial Crisis and nearly reaches that of the 1929 Stock Market Crash. Per Fox Business, On March 16th, The Dow Jones Industrial Average recorded its biggest single day point drop off ever at a loss of 2,997 points (13%). While such quick and rapid change in prices isn’t inherently an indicator of long term recession, the effects of the COVID-19 pandemic continue to make negative growth possible. With that, then, for Hemphill and BAM, repairing their portfolio could prove quite tough.
Relatedly, BAM leader Timo Hemphill ‘20 explains “we also are continuing to discuss politics, economic concepts, and other factors that will impact the markets.” Hemphill says on the hopeful side that, like many investors, “We are looking to make several decisions in the coming weeks that will return our portfolio to where it was.”
High unpredictably isn’t necessarily a prompt to not invest at all, as there are still some risks worthy of taking. The protection and “core allocation” should especially be with government bonds. As Hannah Anderson of J.P. Morgan Asset Management pointed out on CNBC on April 23rd, “volatility is going to be a mainstay… but there are still opportunities to reap returns by taking some risks.” Let’s not also forget that volatility goes both ways.
But the recent decision to suspend immigration for at least 60 days by President Trump, ongoing stay-at-home orders, and other factors from the pandemic may force BAM and other hopefuls to exercise further patience.
![From top to bottom: 1. On protecting the Boundary Waters, Otis Environmental Author Amy Freeman said, “If you’ve been before, try and take someone new the next time you go. I think the more people that know about the place [they] understand it, love it, and want to protect it.” 2. Lower schoolers danced around the stage, eventually forming a mosh pit. The dancing intensified, leading to the band to ask kids to return to their families. 3. The Bennett Gallery features nature artwork from students of all grade levels, including Arthur Risdall ‘37 and Lilah Mairose ‘28. The curators wanted the gallery to feel like taking a walk outside. 4. Eighth graders in Woodshop created canoe paddles for the exhibit. The canoe was a reference to the Freemans’ book, “North American Odyssey, 12,000 Miles Across the
Continent by Kayak, Canoe, and Dogsled.” 5. Students listen during assembly as the Freemans share
their experiences in the JNA. 6. Alex Rozumalski ‘26 made artwork in a joint project between Block Printmaking and Marine Biology. The text by Rozumalski’s artwork said, “We have over-harvested, pollluted, and physically altered ecosystems, in some places irreparably. But it doesn’t have to remain that way.” 7. Lower School students created an eco-friendly felt art piece of the natural world. Most of the
wool was dyed naturally with onion skins, choke berries, indigo, and dahlia flowers. 8. Many families enjoyed the Okee Dokee Brothers concert. Overcash reminisced, “My dad has always been a fan of folk music, so the Okee Dokee Brothers reminds me of him. I think he got me into it.”](https://www.blakespectrum.org/wp-content/uploads/2026/05/Untitled-design-1-424x600.png)
