Weekly Commentary

Objects in the Rear View Mirror Are they closer than they appear? Retail sales rose 7.9% on a year over year basis for 2010. Retail sales are up 13.5% from the bottom and up 0.2% above the pre-recession peak in November 2007. The consumer is back! Here is a recent quote from the San Francisco […]

Investor Class vs. Working Class The economy is expected to possibly grow at a rate of 3.5% in 2011. By comparison, to achieve stable employment, a GDP of 2.7% would probably be necessary. Clearly the estimates being put forward suggest a significant improvement in the employment picture. As we enter earnings season this week we […]

New Year’s Resolutions Our focus for the New Year. Call it a recommitment, an affirmation, or simply stating the obvious. It’s clear to me that in order for Phillips and Company to thrive and grow we need to make a couple of New Year’s Resolutions. It’s not to eat healthier, drink less, speak kinder, lose […]

Now What The $800 billion Clinton-Bush-Obama Tax Plan is in the books. The $600 billion Fed bond purchase program is underway and the stock market is moving higher as a result. United States GDP estimates for 2011 are inching up with some very notable experts, including Alan Greenspan, suggesting we could possibly see 3.5% growth […]

The CBO: Congressional Budget Office Clinton, Bush, and Obama Stimulus Program Politics Makes Strange Bedfellows Indeed Weekly Market Commentary 12-13-10 At the end of the week just as everyone was heading out to enjoy the weekend, I took a quick glimpse at the future, or should I say the past. On TV was former President […]

At the confluence of the mighty Columbia River and the Pacific Ocean is Buoy 10, a great spot for Salmon Fishing and getting sea sick. The absolute chop, current and waves caused by these two massive bodies of water cause quite a stir. In fact, it’s often people lose their lives trying to cross this […]

Weekly Market Commentary 11-29-10 With official earnings season concluded, market participants are clearly re-focusing their attention back on to macro economic data. GDP, Income, Savings, European Financial Crisis, and Jobs; all were part of headlines that moved the markets. The data noise can almost be mind numbing particularly when everyone is trying to find a […]

Weekly Market Commentary 11-22-10 I rarely write about local issues here in Oregon as this blog is received by thousands of people throughout the United States. Generally, Oregon issues aren’t that relevant to the macro picture in the economy. However, something very interesting took place in Oregon this week that did not pick up very […]

I gave a brief explanation last week to a group of employees here at Phillips and Company on why the recently announced Quantitative Easing policy by the Fed is not inflationary in its primary essence. I think it’s worth discussing here, as I believe alignment around outlook is critical if we want to improve our […]

Sleep Well Money Money that helps me to sleep well tonight is probably not going to help me live well tomorrow. The 5% return many have received in the last ten years of investing is not going to be enough for the next twenty years (Trailing Returns, as of 3Q 2010, for an investment portfolio […]