Last month marked the fifth anniversary of a landmark event we would all rather forget: the ominous intraday low of 666 on the S&P 500 Index. It is also six years since the collapse of Bear Stearns, which set in motion a frightening series of events that nearly brought the global economy to its knees and triggered a liquidity-driven collapse in equity prices. For those days, we’re feeling anything but nostalgia!
Posts Categorized: Newsletters
Often we are asked, “what kind of investment manager are you?” We’re inclined to reply, “a very good one, of course!” But the question relates to what style of investing we employ.
Here we go again. The current market correction, measured from the April highs, briefly met the common definition of a “bear market” this week with a 20% peak-to-trough decline.
“It’s tough to make predictions, especially about the future.” Yogi Berra’s wry observation enjoyed particular resonance in 2010 as the strength of the equity markets’ advance far exceeded consensus expectations. Annual market forecasts are challenging enough under normal circumstances, to say nothing of the unique environment of the past few years.