2013 1st Quarter Commentary

2013 1st Quarter Commentary

During the quarter, U.S. equity markets continued to rally despite concerns about the U.S. fiscal outlook, Fed policy, bond distortions, corporate profits, and global uncertainty. In fact, this was the best firstquarter performance for the Dow Jones and S&P 500 since 1998, and both indices reached new all-time highs. Given this impressive rally after a strong 2012, we have refocused our efforts on the fundamentals. We are now looking for confirmation that the accommodative monetary environment will translate into an improvement in top-line revenue growth for our companies. We believe this growth will be required to propel equity markets meaningfully higher over the coming quarters.


Download the 2013 1st Quarter Commentary