April 2011 Investment Strategy

Volatility returned to the markets as a number of global issues burst into the headlines. Unrest is sweeping across the Middle East as rising food prices and a regime challenge in Tunisia provoked demonstrations against several other long established autocratic governments.  In addition, Japan suffered a tragic earthquake and tsunami that will certainly drop that country into recession and over the short-term dent worldwide economic growth. These uncertainties triggered a mild U.S. stock market correction of 6.4% that was actually overdue after the S&P 500 gained 28% from August 31st through February 18th. We do not believe these events are likely to derail the economic recovery, but they have brought future energy needs sharply to the forefront of public attention.

Read Full Investment Strategy