Stock Market Perspective

This section has been a highlight of my quarterly client newsletters since I started writing them in 1995. The primary objective is to be educational rather than provide specific projections about what the market would be doing in the next quarter or year. The range of topics has been wide with a few recurring themes. The ones starting at the end of 2003 are posted here. Most of the ones not posted are no longer relevant (I seemed to have an early fascination with the presidential election cycle and what it implied for the coming year) or have been covered in later ones.

The perspectives are Adobe Acrobat files. You need Acrobat Reader to view or print them. It is probably on your computer, but if not, it is a free download from Adobe's website.

When you choose one of the links, you may see a dialog box to save the file or it may appear in your browser. If it appears in your browser, the back button with bring you back to this page.

• 2008, Second Quarter: Bear Market Drops
• 2008, First Quarter: Conventional "Wisdom"?
• 2007, Fourth Quarter: Greek or Geek: Alpha and Beta
• 2007, Third Quarter: Scams and Dubious Claims
• 2007, Second Quarter: Better Ways to Index Revisited
• 2007, First Quarter: Real Estate Fund Trading
• 2006, Fourth Quarter: Calendar Based Investing
• 2006, Third Quarter: New High for the Dow
• 2006, Second Quarter: Better Ways to Index?
• 2006, First Quarter: Correlations and Diversification
• 2005, Fourth Quarter: Seven Deadly Sins of Investing
• 2005, Third Quarter: Absolute and Relative Returns
• 2005, Second Quarter: Bubbles, How Revealing?
• 2005, First Quarter: Importance of Active Management
• 2004, Fourth Quarter: January Barometer
• 2004, Second Quarter: Bulls, Bears, Cicadas
• 2004, First Quarter: (Non-) Efficient Market Hypothesis
• 2003, Fourth Quarter: Investing in “Secular” Bear Markets