As you know, our investment philosophy is not dependent on correctly predicting the economy or the markets in the short run. That is in the main a fools game. Rather the strategy is dependent on your particular goals and the commensurate returns and risk levels needed to fund them. At times of market stress charlatans of various stripes come out of the woodwork promising above market returns without market risk. As one of our colleagues likes to say " you have to be in...to be in. " That is, you have to be in the market to obtain market returns.
The now 7 week old (or young) rally now tops 30% for the broad market. The "better bad news" as some have put it may be generating a more positive tenor to the economy and markets. At the very least it is good to be rewarded for discipline and patience.
