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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May 2008 Investment Commentary

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First, the good news (our recent IC’s have been so negative, we wanted to start on a positive note). As this is being written: Oil is trading at $111 per barrel, down from $120 earlier in April. Gross Domestic Product increased in the first quarter 0.6%. Personal income increased 0.4% from February to March. Personal…
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April 2008 Investment Commentary

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On January 12th, 2007, Bear Stearns stock price closed over $171 per share. On March the 11th, 2008, it closed just below $63 per share. On Sunday, March 16th, the Federal Reserve Bank assisted JP Morgan in organizing a “rescue” of Bear Stearns by purchasing shares of Bear Stearns at $2 per share. A week…
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March 2008 Investment Commentary

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Unfortunately, our March Investment Commentary isn’t any more optimistic than our previous 4 Investment Commentaries. Our economy is in the middle of a significant economic slowdown and the beginnings of significant inflation, a deadly combination that plagued our economy for most of the 1970’s. One year ago, a bushel of wheat was trading for about…
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February 2008 Investment Commentary

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After cutting the Fed Funds Rate to 4 ¼% in December, the Federal Reserve Bank slashed the Fed Funds Rate ¾% on Tuesday, January 22nd and another ½% on Wednesday, January 30th to 3%. As we said in our January Investment Commentary, this is nothing more than throwing tennis balls at an oncoming train. The…
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January 2008 Investment Commentary

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As expected, the Federal Open market Committee (FOMC) reduced the Fed Funds Rate at their December 11th meeting. The rate was reduced by ¼ % to 4 ¼ %. The Fed was criticized by some for not reducing the rate more (to ease credit, stimulate the economy and avoid a recession). The Fed was also…
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