Newsletter Q1 2012

As we have said over the past several years, we still maintain a constructive view of stocks and would pursue adding quality names possessing good balance sheets on weak overall market performance. That said, we will be carefully watching the earnings quality and margin strength during the reporting period of the upcoming weeks. We anticipate strong earnings for the overall U.S. stock market but are analyzing the potential effect of slowing earnings growth with overall markets still about 10% off their all-time highs. At this writing, we would place ourselves in the camp of seeing “pauses” as ones that will refresh…