Investment Recap

First Quarter 2001

For several quarters, we have been extolling the virtues of diversification. Investors who have been un-diversified and focused primarily on technology have been learning a painful lesson. The outlook for corporate profits, in general, and...

Fourth Quarter 2000

The overriding lesson learned last year by market participants concerned Technology. “Tech” became a four-letter word. Because this sector had overwhelmingly become the place to be the last two years, investors focused more and more...

Third Quarter 2000

We have long advanced the view that markets and economic developments are experiencing a “time compression of events.” (Things seem to be happening at a more and more rapid pace.) The most vivid example of this phenomenon, of course, is...

Second Quarter 2000

While the second quarter started badly, stock prices have improved nicely since May and market interest has “broadened” materially. Small and mid cap stocks have outperformed larger stocks and value stocks have done better than growth...

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