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.

Investment Commentary Sign-Up

Search BCWM Archives

Housing Uncertainty Still a Drag

by

In my April Investment Commentary, I printed a chart illustrating the increasing number of new home foreclosure filings for the past several years. Under the chart I wrote that, until the trend is a downward one, we continue to wait for better opportunities to purchase equities (stocks). As it turns out, the stock market rallied…
Read More

The High Value of Declining Interest Rates

by

The U.S. stock market showed impressive gains in 2009. The S&P 500 increased over 26%. However, even after an impressive gain in 2009, the S&P 500 experienced a NEGATIVE rate of return for the decade that just ended. That’s correct. An investment in the U.S. stock market from the end of 1999 to the end of 2009 netted you…
Read More

Putting Things in Perspective by Reviewing 30-year Trends

by

Recently, we have been asked our opinion about gold. More specifically, should we be buying a lot of it? The conventional wisdom is that the Federal Reserve is printing a lot of money and the Obama administration is running massive budget deficits, both of which are going to make the dollar worth less, if not…
Read More

November 2009 Investment Commentary

by

The third quarter of 2009 showed positive economic growth for the first time in over a year.  Gross Domestic Product was reported to have increased 3.5% in the quarter ending September 30th.  However, most of the reported “growth” could be attributed to government stimulus.  It is estimated the “Cash for Clunkers” program contributed to approximately…
Read More

October 2009 Investment Commentary

by

Almost 80 years ago, after the stock market crash of 1929 and the ensuing depression, Congress enacted the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Advisors Act of 1940. The 1933 Act required companies to provide better information to investors. It was meant to prohibit misrepresentation and fraud (can…
Read More