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Banach Wealth Management Nov. 30, 2008 Letter

November 2008 Markets Review
It’s Darkest before the Dawn
How Close Are We to Dawn?
Key Points
  • Year To Date 2008 Total Returns
    S&P 500 (896) -38%
    US 10 Yr Bond (2.93%) +13%
    NASDAQ (1535) -42%
    Foreign (EAFE) Stocks -47%
  • 2008 US GDP expected growth -0.3%
  • 2008 expected earnings decline -12%
  • Very negative 2008 portfolio returns
Executive Overview
Equity markets continued to crater until Nov. 20.
The 11 week decline was unprecedented since
the Panic of 1893! Yet …

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