Summary-

A growing sense that our economic recovery could be stronger than anticipated has lead the US Stock Market up, close to our year-end target of 1225 on the S&P 500. Inflation continues to be mild and US businesses report better than expected profits due to near record productivity gains from a lean work force. Commercial real estate is finally following residential in a bounce from deeply depressed levels. However, the real growth continues to be in the BRIC countries (Brazil, Russia, India, and China) and Asia in general, as their internal consumption for Western goods and services grows. While we will have our short-term setbacks, we are experiencing a better than expected recovery which will lead to a healthy economy in a few years.

Second Quarter 2010 Newsletter

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