Friends
As expected it was a quiet last day of trading for 2011. The Dow Jones Industrial Average finished the day down 69 points to close out the year at 12,217. The S&P 500 was down 5 points to close out the year at 1257 which is just a hair below the 200 day moving average and dead even for the year (the last time that happened was 1947!). Considering the volatility that we have seen this year, to end up just about dead even is amazing. Gold ended the day up $24 to close near $1565, and oil finished the day near $99 per barrel WTI.
We will have our 1st quarter 2012 Outlook available soon, in which we will discuss the headwinds that we will face in the New Year, but also the opportunities that may arise as the year unfolds. In the meantime, we just want to take this opportunity to thank you for entrusting us with your financial future. As you know, we believe in active management, and to that end we come in every day looking for opportunities, as well as attempting to determine where the risks lie and how we can protect your assets. We are committed to managing risk for you on a daily basis, knowing that we find ourselves in some very difficult times, and that with technology today, news is instantaneous and markets change on a dime. As always, we appreciate any feedback that you might have, as we are always looking for ways to serve you better. In the meantime, enjoy the weekend and be safe. Talk to you next year!
Happy New Year Everyone!
