Market Commentary Archives

July 2010 – The stock market’s abrupt decline in May and June was a rude awakening for investors who had started moving cash back into stocks. Unfortunately, the S&P 500 Index was down more than 11 percent in the second quarter. While the market has clawed back some of that loss in July, economic uncertainty and stock market volatility have reinforced our view that stocks are unreliable in the short run. Therefore, we have turned to a strategy of trust preferred securities combined with select high dividend stocks to provide the highest probability for a respectable total return.

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May 2010 – With the federal deficit at record levels and the new breathtaking costs of health care reform, it seems increasingly unlikely that Congress will extend the tax cuts enacted in 2003 by the Bush Administration that are set to expire at the end of this year. Investors will be faced with some tough decisions, as a result.

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February 2010 – What a difference a year makes. We’re all breathing a little easier after the tremendous stock market rally in the second half of 2009. Portfolio values have recovered dramatically from the March low and the economic picture is slowly improving. However, there is great debate about whether the rate of improvement is sustainable. And so, while we are relieved, the economic uncertainty that looms in 2010 makes strong stock market performance anything but a sure thing.

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October 2009 – The market rally of the past 6 months has provided an important boost to portfolio values and investor psychology. Since the market low on March 9th the Dow Jones Industrial Average is up more than 45 percent. (UIA portfolios are up, on average, more than 70 percent since the low; Intelligent Growth is up over 90 percent).

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