Q2 2010 Client Letter

The markets are once NHCO H Logomore testing our resolution – and of course the media are throwing their weight behind dramatic headlines that might unsettle anyone but the most disciplined investor.  After a strong start to 2010 the second quarter saw indices generally fall such that most are back in negative territory for the year.  Year-to-date we have seen the Dow Jones rise from 10,428 to a high of 11,258 including a single day fall on May 6th that at one stage saw a drop of over 1,000 points! This seems to be more like a “thriller” from Hollywood than common sense investing!

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