July 21, 2009
For all the talk of “green shoots,” it is easy to lose sight of the forest.
May 12, 2009
Many investors are exhibiting the classic five stages of grief in dealing with their portfolios.
April 24, 2009
Things seem to be getting “less worse” than they used to be. But when is “less worse” no longer good enough?
February 19, 2009
This is not a typical economic downturn and it is highly unlikely that the outcome will follow any conventional playbook.
January 15, 2009
Expectations have, once again, gotten ahead of reality. We proceed with cash and caution.
October 16, 2008
We see significantly more economic challenges to come in the coming months and are maintaining a substantial allocation to cash in client portfolios.
July 21, 2008
We expect extraordinary challenges for the economy and the investment markets to continue; these conditions may also create some extraordinary investment opportunities for those with cash and patience.
April 14, 2008
The recovery will likely be slower and more anemic than expected. We remain defensive.
January 14, 2008
If you are willing to look across the valley, the current environment offers a rare opportunity to invest in great companies.
October 8, 2007
And with a flick of his magical monetary wand, Federal Reserve Chairman Ben Bernanke restored liquidity, stability and confidence to the financial markets as they teetered on the edge of the sub-primal abyss.