December 2013 Quarter Review

Fundamentally, corporate profits and the prospect of continued gains drove the equity markets in 2013. However, the massive stimulus of the Federal Reserve certainly had a significant impact in increasing equity valuations. Furthermore, rising interest rates have made...

September 2013 Quarter Review

Optimism that growth will accelerate in the second half of 2013 propelled the stock market higher in the third quarter. U.S. gross domestic product grew a meager 1.1{908bb81a8ab0b16778e7093c43eda429502c67f718526925312015b65456a646} in the first quarter and accelerated...

June 2013 Quarter Review

After such a spectacular start for the equity markets in the first quarter of 2013, the nearly sideways performance of the second quarter feels a lot worse than it was. Our excite-ment through April and most of May has given way to in-creased consternation with the...

March 2013 Quarter Review

The March quarter of 2013 closed with the U.S. stock market at record highs. The year started strong with the agreement in Congress to avoid dramatic automatic tax increases and has been moving higher ever since spurred by strong corporate profits and monetary...