CCR Insights

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design”–Friedrich A. Hayek

We commented in January that “we expect the continued, gradual growth rate of the US (2%-3%) to support an ultimately improved investment climate domestically—but we are convinced we will remain in a low-return environment…” 

By now most of us have read our fill of 2011 post-mortems—but we’re compelled to add a few thoughts of our own before we look ahead, seeking to apply the experience and perspectives gained to our outlook on global markets in 2012.

This past quarter we’ve witnessed Europe’s fiscal issues finally metastasize into banking issues (Belgium’s Dexia)—long feared—as their politicians, like our own, have made an art form of “kicking the can down the road”.

A client of ours called about 5 or 6 weeks ago in a bit of a panic. Their question: when (not if) to get out of the market?

CCR Wealth Management greets the New Year with more sanguine market and economic reflections for our clients’ consideration—at last!

As we approach the end of another calendar year, we reflect not just on the events and developments of 2010, but on the decade that this month concludes. 

As we write, stocks are off some 12.5% from their April 26 highs (as measured by the S&P 500). 

For the year, all major oil, precious, and base metal indexes either exceeded, or far exceeded the major developed global equity index universe.