David Fleer
Bristlecone Value Partners, LLC
12301 Wilshire Blvd., Suite 320
Los Angeles, CA 90025 USA
Work 1-877-806-4141

Monthly Digest – August 2011

August 15th, 2011

The past couple of weeks have been gut-wrenching for investors, with frequent daily fluctuations in the stock market in excess of 3%. Current concerns seem to focus on poor economic data and worries about European banks’ exposure to shaky government credits.

It is hard to know whether the recent bad news indicate a slowdown in the recovery or the start of another recession. In our opinion, the health of corporate America tilts the odds in favor of a slowdown. One key question is how the consumer will behave. Looking at recent news from retailers, it appears that consumption is holding up so far. One unknown is whether the stock market ups and down will dampen the consumer’s mood.

Read the Full Digest


S&P Downgrade, Market Volatility

August 8th, 2011

Late Friday, after the market closed, Standard & Poor’s downgraded the United States debt rating from AAA to AA+ with a “negative outlook,” meaning a future downgrade is possible. This news comes on the heels of recent, mostly negative, economic news and this combination has led to what is now a sharp selloff in the stock market. Volatile markets like we’ve experienced, especially the last three trading days, cause enormous stress even to long-term investors. We thought it would be helpful to provide some context to help you assess the news in light of your personal long-term investment goals. Read the rest of this entry »

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