Back in the fall when ±5% moves in the stock market meant only that another day had passed, I longed for calmer times. I wanted more than anything to just have a day or a week when nothing much happened. Well, it has taken 9 months but I’ve finally gotten my wish. The market spent [...]

“Who is gonna make it?
We’ll find out in the long run
(in the long run)
I know we can take it
If our love is a strong one
(is a strong one)
Well, we’re scared, but we ain’t shakin’
Kinda bent, but we ain’t breakin’
In the long run
Ooh, I want to tell you, it’s a long run
In the long run
In the [...]

In my May 16th commentary, I wrote:
It seems the stock market has reached a crossroad between an improving economic backdrop and increasing nervousness about the direction of long term policy under the Obama administration. The economic outlook has gone from bleak and getting bleaker to bleak but not getting bleaker over the last two months [...]