It’s been quite a start to 2013. The S&P is up 9.5% on the year, and reached an all-time high to finish out the first calendar quarter. The DOW hit new highs weeks ago, and has continued higher. It was the best Quarterly gain since 1998, which was the strongest of the Dot.com Bubble years. Low interest rates and hand-holding from the Fed has helped. The US
is much stronger than the rest of the world. With risks on the rise, the fact that this Bull keeps charging is quite impressive.
We are not getting complacent. We all know things can change quickly. The second quarter beginning on April 1st will no doubt be eventful. After such a strong start, it’s natural for the debate to ensue about “Sell in May and Go Away”. Be assured, we aren’t going away in May because we’ve been banking gains for the past few months in order to preserve portfolio growth. We still feel good about the year. Of course, there are real concerns about a change in the wind with menacing global issues at the boiling point.
Early next week, look for our Quarterly Newsletter and timely research reports. In two short weeks, Uncle Sam expects to receive your tax returns. To avoid stress, we are always here to help and we have a full supply of aspirin, just in case. Our planning department is quick with answers about IRA funding which also has an April 15th deadline. Call us: We are here to help.
Both the Market and our office will be closed tomorrow, in observance of Good Friday. Have a long, fun weekend and may the Easter Bunny be sweet to you, if you’ll excuse the pun.
By: Mike and the Bedell Frazier Gang.
