1st Quarter 2012

Market and economy continue in uptrend

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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October 16th, 2012|Categories: Quarterly Client Newsletters|0 Comments

4th Quarter 2011

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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October 16th, 2012|Categories: Quarterly Client Newsletters|0 Comments

2nd Quarter 2011

ALL EYES ON CONGRESS AND THE PRESIDENT

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.

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1st Quarter 2011

The Teflon market

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.

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3rd Quarter 2010

September brings positive quarter

Client Newsletter
Quarter Ending September 30, 2010
For the recent quarter ending September 30, 2010, the market had a decidedly positive move. U.S. general stocks were up 11.1%, exactly matching their trailing twelve month gain. International stocks were stronger with a 16% gain vs. 11.1% for the trailing twelve months. Taxable bonds gained 4% vs. 10.4% for the trailing twelve months, and municipal bonds gained 33% vs. 5.5% for the trailing twelve months.

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December 15th, 2010|Categories: Quarterly Client Newsletters|Comments Off on 3rd Quarter 2010

2nd Quarter 2010

Rutherford Investment Management, LLC
Newsletter: 2nd Quarter 2010

A volatile quarter

A quarter in which volatility ruled saw the Dow Jones Industrial Averages slide 10%. The crash of 2:45 PM (Flash Crash) detailed earlier in my notes to you, concern over Sovereign debt in Europe, especially Greece, and evidence of a slowing economy led to concerns about a double dip recession. (Please see my Daily Journal of Commerce column recently forwarded to you.) All of these concerns led investors to seek safety and pushed bond yields into record low territory. Mortgage loans plumbed all time lows.
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1st Quarter 2010

Rutherford Investment Management, LLC
Newsletter: 1st Quarter 2010

Near Term Market Outlook

Since March 9th of last year, the market has seen a steady, if uneven rise. This rise has largely been fueled by the policies of the Federal Reserve.

The Fed provided massive bailouts of the banking sector, enormous liquidity to the credit markets and interest rates near zero percent. the result has been a return of confidence to the economy and a willingness to take a risk.

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May 11th, 2010|Categories: Quarterly Client Newsletters|Tags: , , , |Comments Off on 1st Quarter 2010

4th Quarter 2009

Rutherford Investment Management, LLC
Newsletter: 4th Quarter 2009

The Lost Decade

The decade of the 2000’s began with the sharpest drop in the US economy since the Great Depression, and ended on an even worse note, eclipsing the drop in the beginning of the decade, and ushering in the Great Recession.

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December 16th, 2009|Categories: Quarterly Client Newsletters|Comments Off on 4th Quarter 2009

3rd Quarter 2009

Rutherford Investment Management, LLC
Newsletter: 3rd Quarter 2009

Fear Subsides, Market Rallies, Anxiety Continues, A Normal Day At The Office

Last quarter saw a continuation of the market rise that began March 9th, 2009.  The rapid increase was largely the result of a lifting of the fear factor  that pervaded the markets after Lehman Brothers failed last fall.  Download Newsletter

October 16th, 2009|Categories: Quarterly Client Newsletters|Comments Off on 3rd Quarter 2009

2nd Quarter 2009

Rutherford Investment Management, LLC
Newsletter: 2nd Quarter 2009

The Dash To Trash

We all know what a grim time we have had in the markets in the past year and a half.  From the market highs of October 7th,  the markets are now down 41%.  Equities, fixed income, real estate and commodities have all suffered.

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