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3rd Quarter Client Note

The extreme volatility during the last week of August virtually ordained the market’s performance for the quarter. Stocks were weighed down by China’s slowing economy and the continuing pressure on commodity prices (especially oil.) China has accounted for approximately half the world’s demand for industrial commodities. The Fed continues to waver on raising interest rates;

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2d Quarter Client Note

There was plenty of noisy global economic and financial news in the second quarter. The Commonwealth of Puerto Rico is teetering on the verge bankruptcy. The Chinese stock market looks like a monopoly game. And the debt negotiations between Greece and the European Central Bank simmer on. With that backdrop the S & P 500

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4th Quarter Client Note

It seems like only yesterday that we were peering over the abyss of the fiscal cliff. Last New Year’s Eve, even after the 2012 elections were over, the political standoff appeared to be continuing. Taxes were set to rise, sequestration was about to kick in and the debt ceiling was once again about to be

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