05 Nov 2010

Posted at 15:19h in The Friday Brief by
It has been a busy week across the country, but especially, in Washington D.C. and on Wall Street. Republicans gained over 60 seats in the House, roughly twice the post-World War II midterm average. Ben Bernanke and the Federal Reserve risked credibility again by increasing their record stimulus to buy an additional $600 billion of Treasuries through June to reduce unemployment and avert deflation. And amidst it all the S&P 500 charged to its highest level since September 2008 on strong earnings releases and speculation that the Fed will indeed stimulate growth and that banks will be allowed to raise dividends. But alas, as the presumptive Speaker of the House John Boehner said on Tuesday night, “we have real work to do – and this is not a time for celebration.” 

29 Oct 2010

Posted at 16:00h in The Friday Brief by
One of the most compelling human instincts is to excel at whatever we do, to be the best we can be, to win. No matter what endeavor we pursue, our careers, our hobbies, the games we play – all are more exciting when we compete to win.

22 Oct 2010

Posted at 16:11h in The Friday Brief by
The economy continues to flounder with few signs of improvement in unemployment. Unemployment remains entirely too high with few prospects of decline any time soon. Housing remains in near depression as would-be buyers cannot sell their current homes or they worry about losing their jobs, or they cannot find financing. Manufacturing continues to grow, but much slower than earlier in the year, and not fast enough to create jobs. But there are at least two bright spots, (not counting the growing possibility of a gridlocked Congress forced to compromise). The consumer appears to be increasing his outlays for goods and services and the stock market continues to recover from 2008. 

19 Oct 2010

Posted at 15:13h in The Friday Brief by
Yesterday’s rally of nearly 1.5% brought the US equity market halfway back from its 3% decline dealt largely on Tuesday over concerns China’s growth may be slowing. A similar drop in Treasury bonds also rattled investors as they feared the Fed’s $600 billion bond purchase program designed to stimulate the economy would spark inflation. Investors sold US government debt driving some yields their highest levels in more than three months. The 7-10 year Treasury index is down a little over 1% for the week as of yesterday’s close.