Comment on Short-Term (ytd 2009) Performance

18 December, 2009 by Ben O'Brien in Commentary
There are times when the S&P 500 looks like it is doing great but when really only parts of it are doing well. We saw this in the late 1990s, as we said above, when high tech and Internet stocks soared and pulled the rest of the average along behind. We are seeing the phenomenon again. ... read more...

Stuck In Chinese Handcuffs

20 October, 2009 by Ben O'Brien in Commentary
Painfully reminded that wealth has an ephemeral quality to it (think of all the housing wealth that has simply gone “poof”), people have been stuffing money into the mattress. The Federal Reserve estimates that there is more money in money market funds ($9.5 trillion) than there is in the ... read more...