I was listening to a news commentary on PBS last night and the discussion revolved around the state of the economy, 8 to 9% unemployment and the housing and financial mess that we continue to face. All agreed that these are indeed tough times. However, one of the guests reminded the others that tough times are not new and that over time we have always worked our way through seemingly impossible situations.
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October was quite a month from an S&P 500 standpoint. The index grew 10.9%, its largest growth month since 1991. This growth spurt followed, as you may recall, 5 consecutive months of decline.
We’re certainly seeing big daily, weekly and monthly swings in stock market indices…. turbulent times indeed. But, with stock markets, shouldn’t we expect a degree of turbulence? Since 1980, for example, the average intra-year (that is, during each calendar year) S&P 500 decline exceeded 14%. Restated, the average high-to-low decline during those calendar years exceeded 14%.
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A dying man's wish to bring the knowledge of Wall Street to Main Street.
The large budget deficits run by the U.S. government are a big concern to many. What does history tell us of the implications? To economic growth? To stock markets? This study by Marlena Lee sheds light on the topic.
I hear concerns from a lot of people about our current leadership and its impact on the economy and stock performance. A recent presentation by Weston Wellington of DFA addresses this topic head on. Here is a link to the talk: http://www.dfaus.com/library/videos/governme/
Thank you to everyone who attended our recent client education seminar entitled, "The Tenets of Successful Investing." Except for some difficulties with the venue, I'm very pleased with the feedback from attendees overall. The message was pertinent, and attendees indicated that they left with something of value.