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2008 Second Quarter in Review

Posted on July 02, 2008

Well. That wasn't pleasant. The market (as measured by the S&P500)extended its losses for the year, down about 3% for Q208. We are now at1280 in the S&P500, roughly the same level as January 2006. A10,000 foot view of the market isn't encouraging......withthe gasoline prices exorbitantly high, home prices still falling, andthe credit markets showing no signs of recovery. To make matters worsethe Fed is stuck between a rock and a hard place (slow growth vs.inflation), and they seem to be screwed if they cut interest ratesand screwed if they don't (more on the Fed later). Further, we stillhave...

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