Trademark Market Perspective for 8.14.12
Stocks have done fairly well in recent weeks. I would like to be able to tell you with certainty why but I would only be guessing. Here are my best…
Quarterly Perspective for 2Q12
Summary The stock market pulled back during the second quarter but the decline was modest (3.1%)[i]. More than 100% of the decline was in May, as a disappointing jobs report…
Market Perspective for 7/16/12
July Unemployment: Fourth consecutive disappointing report. The trend is confirmed. This is going to put pressure on the Federal Reserve to come up with something, though nobody is really sure…
Notes from the 2012 CFA Conference
The conference was opened on Sunday May 6th by James Montier of Grantham, Mayo, Van Otterloo (GMO) who came into Chicago (where the economic theory of efficient markets and the…
Follow-up on Benchmarks
In the 4Q12 Quarterly Perspective I wrote that benchmarks can be misleading. I referred to the performance of the Dow Jones Industrial Average specifically, because its methodology tends to produce…