Banach Wealth Management Nov. 1, 2008 Letter
October 2008 Markets Review
Large Losses across All Markets
Panic Volatility & Selling
Key Points
- Year to Date Total Returns
S&P 500 (969) -33%
US 10 Yr Bond (3.96%) 0%
NASDAQ (1731) -35%
Foreign (EAFE) Stocks -43% - 2008 US GDP expected growth = 0.6%
- 2008 earnings decline expected = -8.5%
- Negative 2008 portfolio returns
Executive Summary
Equity markets imploded (S&P 500 -17%) in October.
All markets suffered a lack of confidence. Volatility
Equity markets imploded (S&P 500 -17%) in October.
All markets suffered a lack of confidence. Volatility
exploded and risk premiums increased ……