Corrections Are Normal, Bears Are Often Wrong

Unemployment is stubbornly high and the housing market is still a mess-we all know that. Despite these structural problems, the economy has emerged from the recession in 2008, and is growing again-just not as fast as any of us would like. Recent economic data shows the economy is slowing and the market seems to have corrected.. read more →

Hold In May

Virtually all of the S&P 500 companies have finished reporting 1st quarter earnings. The results were impressive, earnings grew 18% year-over-year, far exceeding analyst’s intial estimates. The rate of growth is moderating from the sharp rebounds we saw just coming out of the recession, but this is typical at this stage in the business cycle… read more →

Costs-Do You Want Retail or Wholesale?

At quarter end we took the opportunity to add some new asset classes, change funds that were underperforming, add new fund managers, and adjust our long-term allocations. Essentially, we made changes that we felt were necessary to improve your investment portfolio and adapt to the changing investment landscape. Some of you may have noticed that.. read more →

Japan

We want to let you know we are watching with great interest what is happening in Japan. As most of you know we look at this potentially catastrophic event as if the glass is “half full” not half empty! We look at almost all of these types of events as opportunities. History shows that when.. read more →

Walls of Worry

Record home foreclosures, high unemployment, massive municipal defaults, unrest in Egypt, record federal budget deficits, European debt concerns, higher interest rates, and rising inflation in China and emerging markets. Is there enough for investors to worry about? Yes-and then some! There usually is plenty to worry about and it seems like there is always another market.. read more →

Tax Relief…2010

The recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” is a sweeping tax package that includes, among many other items, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year “patch” of the alternative minimum tax (AMT), a two-percentage-point cut in employee-paid payroll taxes and.. read more →

Year End Re-balancing

After another solid quarter of corporate profits we are heading into the home stretch for 2010. We take this time to review any positions that may be paying a large dividend or capital gains that we would like to avoid. This year there are none that we feel are large enough to sell and escape.. read more →

Poor Economy=Poor Stock Returns?-Not Necessarily

The recent mortgage foreclosure moratorium probably results in even more delays in cleaning up the millions of home foreclosures nationwide and means the return of a healthy real estate market is still years away. Jobless claims remain elevated, and unemployment seems like it will be stuck at around 10% for some time to come. Signs.. read more →

The “Wait and See” Economy

The dog days of summer are over, kids are going back to school, but the economy and the stock market still seem stuck, up just slightly since Memorial Day. Interest rates are low, inflation is lower, and stocks are cheap compared to historical averages. So what is holding things back? We seem to be stuck.. read more →

The Great False Choice

The debate is raging among policy makers, economists, and even among members of the Federal Reserve, about whether more stimulus is needed to boost the U.S. economy or whether policymakers should begin focusing on government debt reduction. Olivier Blanchard, chief economist at the IMF, recently wrote on “the great false choice-stimulus or austerity” in the.. read more →