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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October 2009 Investment Commentary

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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…
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August 2009 Investment Commentary

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The stock market enjoyed another positive month, rallying over 7% during July. It has increased over 40% since the market bottom on March 9th. Interestingly enough, it is still down over 35% from the market peak in October, 2007. This illustrates how important it is to avoid the investing “torpedoes”. When your investments decline by…
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July 2009 Investment Commentary

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“Green Shoots”. Ben Bernanke used this phrase once to describe positive signs that the economy is improving (green shoots are those things that come up out of the ground in the spring and soon turn into flowers). It has become one of the most overused phrases since “Where’s the beef?” And in the month of…
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June 2009 Investment Commentary

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There have been signs of good news in our economy and around the world ….signs that the credit crisis is over, that the recession has ended and that the bear stock market is history. The stock market is certainly factoring in a fair amount of optimism. Since March 9th, the Dow Jones Industrial Average has…
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May 2009 Investment Commentary

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I just returned from the annual CFA Conference which was held at a Disney resort in Orlando. It was an incredible 3 days. The conference was attended by Financial Analysts from all over the world. Last year it was held in Vancouver and the next two conferences will be in Boston and Singapore. The 2008…
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