07 Jan 2005

Posted at 16:05h in The Friday Brief by
The professional future-tellers, the highly respected economists and analysts who have been glamorized in recent years by CNBC, CNN, and Bloomberg News all fall in a pretty tight range saying that markets should grow about 8-10% this year, the economy should grow about 3.5% and corporate earnings, about 10%. 

17 Dec 2004

Posted at 16:28h in The Friday Brief by
So far the Holiday spending season is outshining the more pessimistic prognostications of the more Scrooge and Grinch-like analysts.  On Monday the government reported that retail sales rose for the third straight month, despite rising fuel costs.  The end of the negative political ads, the highest job growth since 1999, and the recent drop in gasoline prices have all likely contributed to the improved mood and spending.

10 Dec 2004

Posted at 16:21h in The Friday Brief by
The government’s report that the growth in non-farm productivity dropped from 4.0% to 1.8% caused investor concern as the S&P fell 1.2% this week.  It was feared by some feared that the productivity miracle of the 90’s might be coming to an end.  We believe many of the drivers of productivity remain in place and that improvements will continue, albeit at a slower pace.