1st Quarter 2011
Commentary on the global market performance during the quarter, including historical performanc data for the global equity, bond and real estate markets.  This quarter's topic of discussion is "is it different this time?"  We compare the economic and political conditions following the major recessions and bear market of 1932 and 1974 to today.  In addition, we discuss the US market returns for the 5, 10 and 20 year periods following these two periods.

4th Quarter 2010
Commentary on the global market performance during the quarter and year, including historical performance data for the global equity, bond and real estate markets.  This quarter's topic of discussion is the patience required to achieve the market rate of return in a year of volatility like we just had in 2010.
 
3rd Quarter 2010
Commentary on the global market performance during the quarter, including historical performance data for the global equity, bond and real estate markets.  This quarter's topic of discussion is on mutual fund expenses and their importance to fund performance.  Unsurprisingly, according to recent Morningstar research, "in every time period and data point tested, low cost funds beat high cost funds."

2nd Quarter 2010
Commentary on the global market performance during the quarter, including historical performance data for the global equity, bond and real estate markets.  This quarter's topic of discussion is on "Forecasting Interest Rates" and the difficulty in predicting when interest rates will move in a specific direction.

1st Quarter 2010
Commentary on the global market performance during the quarter, including historical performance data for the global equity, bond and real estate markets.  This quarter's topic of analysis is on "The Lost Decade" and why disciplined and broadly diversified investors were sheltered from the worst of the storm.

4th Quarter 2009
Commentary on the global market performance during the quarter, including historical performance data for the global equity and bond markets.  This quarter's topic of analysis is on the falling U.S. Dollar and why it doesn't have to be a negative for globally diversified investors.