Comments and Observations


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November Market Commentary 12/01/2011
Following October’s double digit gains, global equity markets pulled back in the month of November. While the S&P 500 was down only fractionally, European and emerging markets posted sizeable losses as banking system distress and economic worries continued to weigh on investor’s minds.

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October Market Commentary 10/01/2011
Global equity markets rallied sharply in the month of October as fears of an imminent global recession receded and the news flow out of Europe turned more positive.

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September Market Commentary 09/01/2011
Global equity markets were down substantially in the month of September driven by continued fears of a Eurozone banking collapse and heightened concerns about global economic growth prospects.

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Mid-August Market Commentary 08/15/2011
We are sure that many of you have been overwhelmed by recent news. It is not our objective to generate yet another layer of commentary. However, we would like to share a few brief thoughts:

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August Market Commentary 08/01/2011
Global equity markets were down sharply in the month of August driven by heightened economic growth concerns and the increasing fragility of the European banking system.

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