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Investment Perspective

The information contained in the commentaries has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy. The opinions expressed are subject to change from time to time and do not constitute a recommendation to purchase or sell any security nor to engage in any particular investment strategy.

  • Investment Perspective: 3rd Quarter 2016

    Rage Against the Machine In the wake of Hurricane Matthew and the battering of the southeast coast, our thoughts turn back to another storm that has been raging for a while....
  • Investment Perspective: 2nd Quarter 2016

    One if by Land, Two if by Sea Global capital markets were jolted in late June by the outcome of a UK referendum on its European Union membership....
  • Investment Perspective: 1st Quarter 2016

    Spring is in the Air Most of us have emerged once again from winter’s cold embrace. The azaleas and dogwoods have bloomed and previously austere tree branches are now showing signs of green life. Of course, spring also ushers in some unwelcome events, most notably that yellow sea of pollen that coats every surface in its wake — causing discomfort to many. The annual filing…
  • Investment Perspective: 4th Quarter 2015

    Not the Perfect Storm Good riddance Most investors were more than ready to bid 2015 goodbye. The year began with a weather-induced economic slowdown in the United States. Then, suggestions of a Greek exit from the E.U. renewed fears of a European banking crisis and the end of...
  • Investment Perspective: 3rd Quarter 2015

    Speed Bumps on a Decent Road Global stock markets sold off sharply in the third quarter. Many investors headed for the exits as if someone had shouted “fire” in a crowded theater. Investors’ old nemesis — volatility — returned with a vengeance after a period of relative calm...
  • Investment Perspective: 2nd Quarter 2015

    The Muddling of the Bulls The third year of a U.S. presidential cycle is typically characterized by robust stock market performance. Yet equities have made little progress so far in 2015. In fact, according to Ned Davis Research, we have
  • Investment Perspective: 1st Quarter 2015

    The Wait for the Rate Even in today’s era of instant mass communication, it is hard to imagine the intense scrutiny that envelops every Federal Open Market Committee (FOMC) policy statement. Meeting eight times a year, the policymaking arm of the
  • Investment Perspective: 4th Quarter 2014

    Oil Lang Syne For the United States, 2014 was unquestionably a year of continued recovery. The economy gained traction as consumer and business confidence both improved. U.S. stock prices recorded new highs, aided by loose monetary policy and the recognition that the economic recovery had become self-sustaining. Many other regions, however, continued to struggle....
  • Investment Perspective: 3rd Quarter 2014

    Fall Breather How quickly things can change. A healthy dose of fear began to grip the stock market as summer turned to fall. This comes after an unusually calm period, at least for the broader averages. During much of the spring and summer, trading remained light and volatility was subdued, as stocks pushed higher. The mood changed in...
  • Investment Perspective: 2nd Quarter 2014

    The Spirit of 17,000 and ’76 The Dow Jones Industrial Average crossed over the 17,000 threshold on July 3rd. The next day, Americans celebrated Independence Day to mark the anniversary of our emergence as a sovereign nation. Judging by the price action of the past eighteen months, stocks seem to be declaring that they too have broken free of...