Investment Recap

Third Quarter 2009

The stock market had its best quarter since 1998 ending with a gain of over 16%. Our stocks performed considerably better. Clearly both the bond and stock markets have returned to health as worries of a financial meltdown, the collapse of...

Second Quarter 2009

The second quarter of 2009 produced the best stock returns in over ten years, with market averages up 16-17%, and our stocks significantly outperforming. Due to the market travails of last year, we are not yet in a celebratory mood. A fair...

First Quarter 2009

The first quarter of ’09 was another turbulent period for financial markets but managed to end on a positive note and through today we are in the midst of a very significant and historic five week rally in stocks. Our stocks are now up for...

Fourth Quarter 2008

The fourth quarter of last year was a monumentally difficult period for stocks as we commented in our October client letter. Hedge fund liquidations, plus the cumulative effect of the many negative events which occurred during the course...

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