Newsletters & Other Communications
Economic & Market Commentary
May 2010
April with its showers and tax filing deadlines has passed with our economy continuing to strengthen. Consumer spending (that's us), which accounts for about two-thirds of the U.S. economic activity, rose in March and likely increased modestly in April (there is a data lag of a few weeks). This increase in spending came in spite of continuing difficulty in the job markets. Employment increased with jobs growing by modest amounts, but unemployment rates remain near 10% and are not falling in appreciable increments. Read the entire May 2010 Newsletter.
Ban v. Arrid: A Measured Approach
May 2010
I use Ban roll-on - unscented, not powder fresh. My mother reminds me that I was raised on the family's much beloved Arrid roll-on. I'm grown now, so it gives me some comfort to show my independence with my deodorant decision. My ban choice seems a little "pricey" to me, but sometimes it's on sale. I use it rather liberally because I don't think it's a good idea to let the stress of managing our clients' portfolios manifest itself without the protection afforde by a good dose of anti-perspirant. Read the entire May 2010 Newsletter.
Quarterly Commentary
April 2010
The first quarter of 2010, and the first quarter of the new decade, looked something like the calm after the storm. Equity (stock) markets were generally positive for the quarter - up in the 4%-6% range depending on your choice of indexes. Interest rates remained at historically low levels (in fact fell a little) - short-term rates are extremely low with money market and short-term CD's yeilding less than 1%. Read the entire April 2010 Newsletter.
The Three P's
February 2010
I really like listening to smart people - it's amazing how much there is to learn. Next week I will be eating chicken and listening to economists say smart "stuff" - first with a new group called The Mid-South Association of Business Economists, that same evening with the Financial Executives International group, and later in the week with the Economics Club of Memphis. I will most likely come away from those three sessions with some new information to process as we endeavor to make decisions about our clients' portfolios and plans. Read the entire February 2010 Newsletter.
Portfolio Matching Process: More New Stuff and a Personal Invitation
November 2009
A year ago the S&P 500 (proxy for the stock market) was around 950. Today it's bouncing around 1100. A year ago we were concerned about the future of capitalism and beginning to challenge the economic and financial models that we had all believed in and relied on for many years. Today we are modestly reducing our equity exposures because current levels may be a little higher than indicated by earnings and asset values. Read the entire November 2009 Newsletter.
A Season of Change
September 2009
It has now been a year since the collapse of Lehman Brothers which, in some respects, triggered the meltdown in the financial and other markets that we all experienced last fall and winter. the virtual gun was already loaded with some pretty toxi stuff, but the Lehman collapse will likely be remembered as the loudest shot. Read the entire September 2009 Newsletter.
Privacy Pledge
We are honored by your decision to include us in your financial life and by the trust that you have placed in TD Capital. Because the nature of our advisory relationship necessitates that we possess certain personal information about our clients, we hold ourselves to the strictest standards of confidentiality and privacy. Your trust in us is built on your belief that we will act responsibly in your best interests; therefore, we would like to share with you the actions that we take to safeguard your private information. Read the entire Privacy Pledge.