Banach Wealth Management Jan. 03, 2010 Letter
2009 Financial Markets Review
Extraordinary Monetary Leverage
Stabilized Private Entities Deleveraging
Mid 2010 markets likely to be volatile
Key Points
- 2009 Total Returns
S&P 500 (1115) 28%
U.S 10 Yr Bond (3.85%) -11%
NASDAQ (2269) 44%
Foreign (EAFE) Stocks 24% - U.S. GDP likely contraction -2.3%
- 2009 earnings expected decline -5.6%
- Stock markets hit bottom in March
- Economic recovery in process