It’s been one heck of a two weeks. One would think the world was coming to an end, given the way global markets have behaved. You may not be able to make much sense of why markets sold off so quickly, but out of the carnage we may be able to predict what comes next. Here’s why.Stock market free falls, such as the one we are presently experiencing, are called waterfall declines, which are sudden drops of 20 percent or more compressed into a few short weeks or days. They are fairly rare events and most follow a roughly similar pattern consisting of three phases. The first phase is the decline itself followed by a sharp bounce higher. We may be experiencing that bounce right now. Following the bounce (and possible retest of the lows), the market should drift into a basing period that could last for one to three months. During that time the market could move up and down in a sideways pattern similar to what we experienced in May through June of this year. Finally, in the last phase there is a rally lasting six to 12 months that could move the markets higher by about 25 percent.In reviewing 10 waterfall declines from 1929 thorough 2002, three months after the post-waterfall low, the stock market was higher in all 10 cases. Six months later, the market was higher in nine of the 10 cases with the average gain at 17 percent. A year later the market was higher in nine out of 10 cases with the average gain equal to 24 percent. The financial crisis of 2008-09 was in a league all by itself. The market, three months after the low of March 2009, was up 37 percent.If we drill down even further, say to the next two weeks, one can expect a relief rally of as much as 10 percent. Then, if the pattern holds, we should retest the bottom. In this case, if we have truly found a bottom for the S&P 500 Index at around 1,100, we should bounce again from there.“So what happens if we break down through that 1,100 level?” asked a nervous client from Manhattan.The short answer is 1,100 wasn’t the bottom and we go lower, by as much as 10 percent, to S&P 1,000.Waterfall declines are often recession related. There have been exceptions to that rule. For example, in 1987 the market fell sharply for two days only to spring back. The dot-com boom and bust of 2002 was another waterfall decline that did not usher in a recession.So what is the best way to navigate through a waterfall decline and its aftermath? It is obvious that one should ride out the turbulence; at least for the next few months. If we are truly entering into a recession, the economic data will confirm that fear or dispel it. If we are going into a double-dip, then I advise you to get defensive: bonds, dividend-paying stocks, etc. But it may turn out that the market was simply correcting, as it does periodically after a long and profitable run. Remember, the S&P 500 Index was up over 80 percent in over two years, so a 20 percent pullback doesn’t look as serious from that perspective. Bill Schmick is registered as an investment advisor representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 888-232-6072 or email him at Bill@afewdollarsmore.com.
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One systemic consequence of slavery is the loss and obscuring of the histories of those who were enslaved. Records were often not kept about where Africans had been stolen from or who they were related to. Families were torn apart, leaving nothing but the faintest traces of the past. The delineation point, where genealogists can no longer trace histories back, is refered to this as the “document wall.”
Today, 250 years after the signing of the Declaration of Independence and more than 160 years since the Emancipation Proclamation, there is a growing effort to restore some of the history stripped from enslaved people and their descendants. Among the leaders of these efforts is Mills, president of the Alex Breanne Corporation, a nonprofit organization that works to identify previously anonymous Black Americans from history and connect them with their living relatives.
The work began with Mills’ sister, who started digging into their family’s past in the 1990’s and introduced him to this emerging world of genealogy. Through that process, the Mills family discovered their great-great-grandfather, Ned Mills, who had been enslaved in Texas. His last name came from his final enslaver and remains the family surname. Through their research, they found that the document wall directly affected their ancestor, who learned of his liberation on June 19, 1865, now commemorated as Juneteenth.
“For the first time,” Mills writes on his website, “American slavery wasn’t something that had happened to anonymous people in a history book. It had happened to my family.”
The discovery gave Mills a familial pride he had been missing for years. That pride fueled his desire to help others find their own history. In 2023, Mills received his certificate in genealogical research from Boston University. He has used his expertise to help descendants of enslaved people uncover histories they never dreamed of learning.
To do this, he uses a process called “reverse genealogy,” identifying a person from the past and working forward to discover their descendants. Along the way, Mills has found some remarkable people who fought for freedom on American soil, some of whom were never freed.
Pay Bill for Robin Starr’s service in the Continental Army.Courtesy the Alex Breanne Corporation
At the Cornwall Historical Society event, Mills will present the stories of four Connecticut families: Job Lathrop of Norwich, the son of Pirmus Armes, about whom Mills has published a book; Prince Mortimer of Middletown, also the subject of a book by Mills;, the three sons of London Wallace of Simsbury; and Robert “Robin” Starr of Danbury, who later lived in Cornwall and Sharon.
A few years ago, Cornwall Consolidated School social studies teacher Will Vincent reached out to Mills for research guidance on a local history project his students were undertaking. Together, they learned about Naomi Freeman of Cornwall. After purchasing an acre of land on Great Hollow Road in 1828, Naomi Freeman became the first Black female landowner in Cornwall.
The students petitioned the town to rename a road after the historic Cornwall resident In April 2025, Great Hollow Road was officially renamed Naomi Freeman Historic Road. U.S. Rep. Jahana Hayes joined Mills and the Cornwall Consildated School students for a presentation of their research.
Since then, Mills has guided the students in their quest to learn more about Starr’s story. Starr was a Revolutionary War soldier who joined the Continental Army to earn enough money to buy his own freedom, receiving the Badge of Merit in the process. The stories of his descendents’ services are equally worthy of their own books.
In recognition of Mills and the students’ work, First Selectman Gordon Ridgway proclaimed Feb. 8 as Robin Starr Day.
Preregistration is required for the event at the Cornwall Historical Society. To learn more about Mills’ work, visit
alexbreanne.org.
John Mills speaking at Quinnipiac University.Courtesy the Alex Breanne Corporation
Stephanie Saetta runs Charlie Chicken Bones, a sanctuary in Salisbury.
Dogs have been at the center of Saetta’s life since childhood. She remembers going to the library to research different breeds and trying to convince her parents the family needed a dog. She had her heart set on an Irish Wolfhound, but she was more than happy when her mom brought home a West Highland terrier.
After college, she adopted Charlie as a puppy from a rescue on Long Island. He was a hound-shepherd-Rottweiler mix who suffered from intense seizures. Some veterinarians recommended euthanasia, but Saetta wasn’t ready to give up on him.
When Charlie would have an episode, she would sit with him, nose to nose, talking him through it. She learned to look for the moment he began to come around — when he could smell her again and his tail started to wag.
“You only get one or two of these soul connection dogs, so I do this in his honor,” Saetta said. “I like to think that all the dogs that come through are going to have that person that they connect with just the same.”
Through a network of women working to rescue animals in Texas, she learned about the desperate situations facing many dogs.
With limited space, some public pounds euthanize even healthy animals to make room. Limited access to veterinary care leaves sick dogs or unvaccinated puppies especially vulnerable.
Saetta saw that reality firsthand with a puppy named Gus, a Labrador mix she fostered who has since been adopted. Gus and his sisters had been dumped beside a road, where they were living under an abandoned car. People would leave food for them, but no one would take them to the pound.
“Even the people who rescue animals down there were like, ‘sadly, the best place for them to be is on the side of the road,’” she said. “That’s safer. Someone might actually help them that way.”
Saetta knows that there are far more dogs than any one person can save, but she also knows that helping one dog means one fewer on the street.
Stephanie Saetta,with her rescue dog George and Blue (left), a shepherd mix awaiting his forever home.Madi Long
Charlie Chicken Bone Sanctuary operates entirely through foster homes, a model that Saetta believes is best for the dogs and the humans hoping to adopt them.
Rather than moving directly from a difficult environment into a permanent home, the dogs have a chance to settle into a quieter setting. They can learn what it’s like to live with a family, sleep somewhere comfortable and receive affection without fighting for attention. Fostering also allows the rescue to really get to know each dog.
“As fosters, we’re honest,” said Saetta. We’ll tell you everything that’s been bad, everything that’s been good. What their temperament is and how they’ve responded to all the things they’ve experienced.”
A successful adoption is not just about finding a dog a home; it’s about finding the right home where the dog and family can thrive together.
Saetta is looking for more people willing to open their homes to foster dogs. She understands that the thought of growing attached and eventually saying goodbye can feel daunting. But she sees that goodbye a little differently.
Fostering means being part of a dog’s journey, even if only for a short time. It gives dogs a safe place to rest, the chance to trust again and the love they have gone without for much of their lives. And when the time comes for them to leave, it is not really a loss. It is the reward of knowing they are moving on to a forever home.
Blue, Saetta’s current foster, is hoping to find his perfect home.
Blue, a 7 year-old Shepard mix, is waiting for his forever home. Madi Long
Now around 7 years old, Blue spent most of his life wandering the streets of Texas. People sometimes left food out for him, but his mangy, dirty coat kept them from stopping to pet him. Today, he has a chance to experience something different.
Blue is still waiting for his forever home. Saetta believes he would do best as the only dog in a household or alongside another senior dog. He will need someone willing to continue working with him on his training and understand that a dog with his history needs patience.
But what he gives in return is a whole lot of love.
“He’s so enthusiastic, he’s so excited for life, he’s so friendly, and he’s got such a good heart, and he loves to cuddle,” Saetta said. “He’s a good, good, good dog.”
For more information on adopting Blue or how to foster, visit ccbsanctuary.org.
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