The stock market fought, and barely won, the battle in 2005 against dramatically rising energy costs and relentless Federal Reserve interest rate increases. For the year, the S&P 500 with dividends was up a modest 4.9%. The Dow Jones Industrial average was down fractionally before dividends, but up 1.7% including dividends. During the year oil…
To Our Clients and Friends of Parthenon LLC The market was unable to make any headway in the first half of the year. Much like the stone continuously pushed up the hill by the mythical Sisyphus, every advance was ultimately rolled back. The primary culprit was higher oil prices. Investor fears of the potential widening…
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To Our Clients and Friends of Parthenon LLC The S&P 500 returned 10.87%, and the Dow Jones Industrial Average a modest 5.30% (both with dividends re-invested) for the year. It would be tempting to refer to this as a “normal” year since total returns were close to the historic average for the broad equity market.…