Research Excerpts

Happy Holidays, 2011 Performance Update

Posted on: Friday, December 23rd, 2011

With just one more week to go, we are starting to compile our 2011 market calls for the US stock market. This has been an especially difficult year for managers as the S&P 500 has remained in a pretty tight range, only venturing as much as 10% above (on May 2nd) and 12% below (on October 4th) 2010’s closing level of 1258 at the extremes.

Nevertheless, through the end of the day today we have managed to outperform the S&P 500 by +9% since January 1st, and by +13% since May 17th.

In addition, at the beginning of March we correctly forecast upcoming relative sector outperformance by Health Care (+13%) and Consumer Staples (+10%) versus the S&P 500 between March and June, and by Utilities (+24%) versus the S&P 500 between March and October, among several other sector-related market calls that we made during the year.

We will make our final performance numbers available, complete with details as we did with our 2010 performance data, by early 2012.

Best wishes to you and yours for a safe and happy
Holiday Season and a healthy and prosperous 2012. 

We’re looking forward to having the opportunity
to help you make 2012 a successful year in the markets.