Q1 2013 Client Letter
It seems like a long time ago that we were subject to an apparently endless stream of news about the implications of our nation going over the Fiscal Cliff. These stories made people feel that the markets were staring face first into a double barrel Federal budget shot gun. Actual events have not been quite in line with the dire predictions. The Dow Jones Industrial Average rose 308 points on the first trading session of 2013, and rose consistently during the ensuing quarter.