Monthly Archives: July 2013

Q2 2013 Client Letter

For much of the last year the media published an endless stream of NHCO H Logonews that was worrisome to investors.  It started with the fiscal challenges of Europe and its banking crisis.  In the fall, the U.S. elections worked investors into a sweat and polarized views on how our country should resolve its fiscal imbalances and growing debt burden.  Close on the heels of the election was the dreaded “fiscal cliff” and the abrupt reduction of government spending that would impair our recovering economy.

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