Monthly Market Updates

Posted February 28, 2009

Irrational Pessimism?

Irrational exuberance, a phase made famous by former Federal Reserve Chairman Alan Greenspan, in a speech before the American Enterprise Institute in December of 1996, while warning of what he believed was an overheated stock market. One could certainly make a case what we are experiencing now is the opposite of that, let’s call it irrational pessimism. Pessimism, as defined by Webster, is “to expect the worst possible outcome” and I don’t… Read More ›

Posted January 31, 2009

Here We Go, Again?

Déjà vu all over again. The words of Yogi Berra seemed an appropriate way to start this commentary, as it does seem like we have “been here, done this”. In the fall of 2008 the collapse of Lehman Brothers, Fannie Mae, Freddie Mac and IndyMac Bank created fear of a 1929 style “run on the banks”, and prompted the Federal Government to move quickly toward stabilizing the banking system by encouraging marriages… Read More ›