Commentary

Each month, the BCWM Portfolio Management team publishes an Investment Commentary that examines the latest developments in financial markets and the economy. We filter out the noise and present the information most relevant to our investment strategies and management of our clients’ portfolios.

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PIIGS Get Slaughtered

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A sad paradox of lending and borrowing is that the borrowers who need money the most are the ones who must pay the highest rate of interest. Those who need it the least can borrow at extremely low rates of interest. High interest rates make it difficult to repay one’s debts, frequently causing one to…
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Gold Rush

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Hardly a day goes by that someone does not ask me what I think about investing in gold. Do I think the price of gold is going higher? How high do I think the price of gold can go? Is gold a good investment? The answer to any and all questions of that nature is…
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Recession is Over. Watch Out for the Recovery.

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I stopped in Chickasha, Oklahoma the other day and pulled into a McDonalds to purchase a small Coke. Chickasha is not a destination... it is a place you stop to get a Coke on your way to your destination. It is the county seat of Grady County and home to the annual “Festival of Light.”…
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Where Are the Jobs?

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Below is one of the most daunting graphs I have come across during this recession. It is not nearly as complicated as it appears so don’t give up on it easily. The graph, from www.calculatedriskblog.com compares the amount of jobs lost during each of the recessions since World War II (1945) . . . and how long…
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Why Stocks Might Be Cheap . . . And Why They Might Stay That Way

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Corporate profits are up.  One by one, throughout the month of July, corporations announced earnings for the quarter which ended June 30th and the vast majority declared they are making money.  Some, like General Electric, have raised their dividend….dividends which were drastically cut two years ago. Corporate balance sheets are flush with cash and, on…
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