Market Comment Q1 2009

Without Precedent If a novelist wrote the story of the past two years as fiction, he or she would have been hard pressed to find a publisher for such an outlandish tale. The economist Hernando de Soto (not the conquistador) wrote in The Wall Street Journal on March 25 that total outstanding subprime mortgages are...

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Market Comment Q4 2008

Year End Review and Outlook 2008 “If you can’t forecast well, forecast often,” goes the old saying. At the moment it would seem the height of folly to attempt a specific near-term forecast of the economy or markets. So much has happened so quickly that it is all one can do simply to keep up,...

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