Yearly Archives: 2007

2007 Summer Letter

To Our Clients and Friends of Parthenon LLC After a nearly flat first quarter, the stock market moved solidly higher in the second quarter. The S&P 500 was up, with dividends, 6.24% and is up 6.99%, with dividends, through mid-year. Bond prices fell and yields rose with the ten-year Treasury bond yield rising to 5.03%…

2006 Year-end Letter

To Our Clients and Friends of Parthenon LLC The S&P 500 finished the first half of the year with a modest total return, including dividends, of 2.71%. The overall results give an impression of placidity, but belie the turbulence the equity markets have experienced since spring. The relative calm of the first quarter gave way…