To Our Clients and Friends of Parthenon Capital Management Although we can offer few words that would be adequate for the human toll of the terrorist attacks on America, our sympathies go out to all those who have suffered a loss. Before the attacks the economy appeared to be entering or bordering on a recession.…
To Our Clients and Friends of Parthenon Capital Management A moderate dose of optimism returned to the stock market in the second quarter sending the S&P 500 up 5.85%, leaving the index down 6.69% for the first half of the year. Bond prices fell and yields on 10-year treasuries rose to 5.41% from 4.99%. The…
To Our Clients and Friends of Parthenon Capital Management The date on the calendar changed but the market’s action was undeniably retro in the first quarter as stocks extended the decline of last year. The S&P 500 Index fell 11.9% in the period as the weakness that had been concentrated primarily in technology and internet…
To Our Clients and Friends of Parthenon Capital Management Investors must search back over a quarter century to find a more negative year for total return on the S&P 500 Index than 2000. The Index fell 9.1% after an unprecedented string of five straight years with returns over 20%. The worst damage, obviously, occurred in…