Later this morning I will be posting a new data table on the portfolio performances. Since September 17th, when I last showed the performace data, nearly all of the seven portfolios improved in an absolute sense, and they also improved with respect to the VTSMX benchmark. These are encouraging results in light of this bear market.
The data will be made available over on Premium Content in a few hours.
Lowell Herr
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The Sunday Oregonian carried a series of articles by local bankers, investment advisors, and economists. Here are a few snippits from these articles. You will find more over on Premium Content.
From Ray Davis, president and CEO of Umpaqua Holdings Corp. we read, “When we (come out of this), it will be to a vastly different financial system, one that’s stronger and smarter because of what the public and private sectors will have learned.”
“The current economic situation is unlike anything I’ve seen and unlike anything most Americans have seen in the past 70 years. It’s the perfect storm: a combination of the housing crisis, investment bank turmoil and economic downturn that together are creating an incredibly challenging environment that will fundamentally change the financial services industry.”
Davis, like many others writing in the Oregonian, remains optimistic we will pull out of this problem. “Investment banks also have been largely self-regulated for many years, something that is clearly going to change. Remember, the true purpose of regulation is to protect the consumer and the investor–not individual companies. We are going to see significant regulatory changes, particularly to the investment banks and hedge funds, in order to make sure that consumers and investors are protected.”
One can only hope Davis is correct and that we will see some sanity return to the investment banking business.
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