By Rutherford Investments on October 16, 2012
My apologies for the tardiness of this letter, but I have been in Europe for a few weeks, sojourning, but also gathering information. I did not have any high level meetings, it wasn’t that kind of trip. One can get the flavor of macro thinking almost daily from news reports, not that I think they are accurate, but they do give a sense. I found European people on the street in a bit of a funk but still up beat. I was mainly in the former eastern block countries, so they have been used to turmoil and an upswing from communist days.
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By Rutherford Investments on October 16, 2012
For the first quarter of 2012, markets showed strong growth. The S&P returned 12.6% for the quarter, 8.5% from the same time a year ago. The Dow was up 8.1% for the quarter, 7.2% from a year ago, and the NASDAQ up 18.7%, 11.2% from a year earlier. Volumes however, were light, not what an investor would want to see. NYSE volume was the lowest since 4Q 2007, and down 14.5% from a year ago as investors remained cautious.
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By Rutherford Investments on October 16, 2012
Calendar Year 2011
This past year severely tested investors’ patience. The year started well, with economic optimism emerging. The first quarter of the year the S&P index finished up 5% in spite of enormous headwinds. However, even more unpredictable events appeared which dashed optimism. A severe earthquake and resultant Tsunami rocked Japan, disrupting supply chains and economics throughout the world, showing once again how exogenous events seemingly faraway can impact our markets.
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By Rutherford Investments on September 14, 2011
Client Newsletter
Quarter Ending June 30, 2011
Investors have seen their eyes cross, as congress dithers over an increase in the debt ceiling. Both sizes dig in and positions harden. The Tea party is particularly intransigent, and Republicans are having a hard time delivering a untied position let alone votes. Liberal Democrats are unhappy with President Obama as he tries to adopt a centrist position in anticipation of the upcoming Presidential elections. Sclerosis of the political process makes a deal more and more in doubt.
Posted in Quarterly Client Newsletters | Tagged congress, debt ceiling, presidential elections, republicans, tea party | Leave a response
By Rutherford Investments on September 14, 2011
Client Newsletter
Quarter Ending March 31,2011
Market has strong quarter in spite of serious international problems. Stocks enjoyed the best first quarter of the year since 1998, and begin April on an upbeat note. For the first quarter of2011 the Dow closed up 6.90/0, the S&P 500 up 5.95%, and the NASDAQ up 5.1 5%, a very strong showing in the face of continued uprisings in the Middle East, rising oil and commodity prices, and the Japanese earthquake and Tsunami. Dubbed by some, “the Teflon market”, the market just kept rising in the face of bad news. Volume was steady if not spectacular, a sign that the market had not entered a frothy stage. Indeed retail investors are yet to get excited by the market which has now reached its highest levels in three years.
Posted in Quarterly Client Newsletters | Tagged commodity prices, middle east, retail investors | Leave a response
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