2nd Quarter 2006
Rutherford Investment Management, LLC
Newsletter: 2nd Quarter 2006
Headwinds Strike with Vengeance
At the end of January, 2006 our portfolios were up nicely and I commented offhandedly that we should probably take what we had and call it a year, because I didn’t think we would do any better for the year than we had already done. Indeed, the market continued to reward us up to May 10, 2006. Those of you who read my quarterly letters know that I have been warning of the headwinds caused by rising commodity prices, the falling dollar, the Federal Reserve interest rate increases and tightening of the money supply, serious budgetary deficits and geo-political/terrorist events… Download Newsletter
1st Quarter 2006
Rutherford Investment Management, LLC
Newsletter: 1st Quarter 2006
A Surprise Quarter
The first quarter of 2006 turned out to be full of surprises. As the year ended we saw rising interest rates, and oil prices. Inflation appeared on the horizon. We did not expect much for the market. The result was much better than anticipated. The S&P 500 index was up 4.2% for the quarter nearly matching its total return for the previous year. It was the best first quarter of the year since 1999… Download Newsletter
4th Quarter 2005
Rutherford Investment Management, LLC
Newsletter: 4th Quarter 2005
The “Jig” Is Up!
In conversations with clients at the beginning of this year, I said that I thought this year (2005) would be a difficult year for the markets; if the markets were up 3-5% we could count that as a win. Actually, for the year, the Dow was up 1.72% the S&P up 4.91%, and the NASDAQ up 1.37%. Fortunately we did better… Download Newsletter
3rd Quarter 2005
Rutherford Investment Management, LLC
Newsletter: 3rd Quarter 2005
Dislocation, Dislocation, Dislocation
At the start of this year I advised clients that I did not think this would be a very good year for the markets. That prophecy has proven correct with the S&P up only 2.8% YTD and the Dow and NASDAQ both down for the year… Download Newsletter
2nd Quarter 2005
Rutherford Investment Management, LLC
Newsletter: 2nd Quarter 2005
The Road Ahead (Under Construction)
It now appears that the economy grew at the rate of about 3% in the first half of the year. Not a bad showing. Retail sales are strong, non-manufacturing index shows growth, but job growth is weak… Download Newsletter
1st Quarter 2005
Rutherford Investment Management, LLC
Newsletter: 1st Quarter 2005
Bubble, Bubble Oil and Trouble
In my recent letters I have said that rising oil prices, and rising interest rates would make it difficult for the markets to make much progress. In addition to these known concerns, the Federal Reserve decided to shrink the money supply… Download Newsletter