Investment Recap

During the second quarter, the stock markets declined approximately 3%. Our stocks again did somewhat better. Headline news focused on debt problems in Europe and the specter of a break-up of the Euro currency alliance. Fortunately in June...

In terms of performance, the first quarter amounted to the equivalent of a good year! The major stock market averages were up approximately 12%; our equities were up 15%. While worries about European sovereign debt resurfaced again last...

As we hoped and perhaps expected, the stock market had a pleasant 11% recovery in the 4th quarter. For the year, the S&P 500 Index was flat (small caps were down 4%). Our results were in line with these overall numbers and our balanced...

The best thing about the 3rd quarter is that it is over. Indeed, in the first two weeks of October, markets have recovered almost half of the 14-15% three month losses. Our July letter discussed Congressional “dithering” and problems in...