Archive for the ‘News & Press’ Category
2012 1st Quarter Commentary
Overview
The following are some significant events that occurred in the 1st quarter:
The Dow Jones Industrial Average closed above 13,000 for the first time since May 2008.
The S&P 500 also had its highest close since 2008; in fact, it had its best first quarter since 1998.
Parliaments in Germany and Finland approved the second bailout package for Greece.
The ECB’s (European Central Bank) 3 year Long-Term Refinancing Operation (LTRO) was initiated and served …
2011 4th Quarter Commentary
Overview
2011 was a wildly volatile and emotionally taxing year for investors worldwide. After an attractive first quarter, the Japanese tsunami devastated a portion of our manufacturing supply chain which damaged production, sales and ultimately, GDP. Following that natural disaster, we experienced a man-made one when politicians seemed intent on creating a financial crisis over America’s very large debt. Their indecisiveness contributed to a decision by the ratings agencies to lower …
2011 3rd Quarter Commentary
Overview
Instability, uncertainty, and overall headline risk drove stock prices for the last three months. While many of the concerns we have written about earlier this year persist, the drama in Europe supersedes everything right now. On the whispers of agreements or dissensions between the deal makers/politicians in France and Germany, equity markets have moved hundreds of points upward or downward. Sentiment is quite negative these days and sentiment is driving …
2011 2nd Quarter Commentary
Overview
The second quarter of 2011 had an all too familiar feel. After a strong start to the year, investors “sold in May and went away.” However, this time rather than an oil spill and the ensuing disaster, it was global supply chain issues caused by the Japanese tsunami, massive flooding in the US, a slowing growth rate in China and continued European debt concerns that caused investors to pull back. …
2011 1st Quarter Commentary
“He that can have patience can have what he will.”
Benjamin Franklin
Overview
The first quarter of 2011 closed with an upward trend in stock prices. A rally that began in December continued through March with the final day of trading in the quarter testing the highs set on February 5th. This type of behavior shows the extreme resilience of investors; that despite the prevalence of intense “noise,” the fundamentals that drive …
Addition of Brian May
Smith, Salley & Associates is pleased to announce the addition of Brian May as an analyst and portfolio manager. May, a resident of Greensboro comes to Smith, Salley & Associates with 14 years of experience in research and portfolio management. Prior to joining SS&A, he was most recently a Partner and Senior Portfolio manager with Jonathan …
Jim Agnew Joins Smith Salley
Smith, Salley & Associates is please to announce the addition of Jim Agnew to our team. Jim comes to Smith, Salley & Associates with over 40 years experience in research and portfolio management. Jim retired from CCB/SunTrust after 35 years with that bank in December after working in various capacities, most recently as senior portfolio manager in the Wealth …
Andrew Davis Part of Smith Salley
Smith, Salley & Associates is please to announce the addition of Andrew D. Davis as an analyst and portfolio manager. Davis, a resident of Charlotte, comes to Smith, Salley & Associates with 9 years experience in research and portfolio management. Prior to joining SSA, he was most recently a Vice President and portfolio manager with SunTrust Personal Asset Management.
Davis received a Bachelor of Arts in Economics from the …
Partners & Associates
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