Prior Quarterly Commentaries


Fourth Quarter 2016 Commentary
Date: January 2017

Third Quarter 2016 Commentary
Date: October 2016

Second Quarter 2016 Commentary
Date: July 2016

First Quarter 2016 Commentary
Date: April 2016

Fourth Quarter 2015 Commentary
Date: January 2016

Third Quarter 2015 Commentary
Date: October 2015

Second Quarter 2015 Commentary
Date: July 2015

First Quarter 2015 Commentary
Date: April 2015

Fourth Quarter 2014 Commentary
Date: January 2015

Third Quarter 2014 Commentary
Date: October 2014

Second Quarter 2014 Commentary
Date: July 2014

First Quarter 2014 Commentary
Date: April 2014

Fourth Quarter 2013 Commentary
Date: January 2014

Third Quarter 2013 Commentary
Date: October 2013

Second Quarter 2013 Commentary
Date: July 2013

First Quarter 2013 Commentary
Date: April 2013

Fourth Quarter 2012 Commentary
Date: January 2013

Third Quarter 2012 Commentary
Date: October 2012

Second Quarter 2012 Commentary
Date: July 2012

First Quarter 2012 Commentary
Date: April 2012

Fourth Quarter 2011 Commentary
Date: January 2012

Third Quarter 2011 Commentary
Date: October 2011

Second Quarter 2011 Commentary
Date: July 2011

First Quarter 2011 Commentary
Date: April 2011

Fourth Quarter 2010 Commentary
Date: January 2011

Third Quarter 2010 Commentary
Date: October 2010

Second Quarter 2010 Commentary
Date: July 2010

First Quarter 2010 Commentary
Date: April 2010

Fourth Quarter 2009 Commentary
Date: January 2010

Third Quarter 2009 Commentary
Date: October 2009

Second Quarter 2009 Commentary
Date: July 2009

First Quarter 2009 Commentary
Date: April 2009

Fourth Quarter 2008 Commentary
Date: January 2009

Third Quarter 2008 Commentary
Date: October 2008

Second Quarter 2008 Commentary
Date: July 2008

First Quarter 2008 Commentary
Date: April 2008

Fourth Quarter 2007 Commentary
Date: January 2008

Third Quarter 2007 Commentary
Date: October 2007

Second Quarter 2007 Commentary
It’s Different This Time
Date: July 2007

First Quarter 2007 Commentary
Date: April 2007

Fourth Quarter 2006 Commentary
Date: January 2007

Third Quarter 2006 Commentary
Date: October 2006

Cash-The Secret Weapon
Date: August 2004

The Fiduciary’s Dilemma
Date: January 1999

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