2nd Quarter 2009 Market Review


Reflections Market Review & Outlook It’s two weeks from the end of the third quarter in what continues to be a most eventful year for stock markets and the economy. It’s also about a year since the weekend that shook the foundations of Wall Street and of the global financial system – when Lehman Brothers collapsed, Merrill Lynch vanished as an independent entity and AIG was taken over by the U.S. government. In light of that, we thought it might be worthwhile to briefly summarize where we’ve been this year, where we are today and the prospects for the period ahead – and also to highlight some lessons from last year’s financial collapse. ....> Read More	For More Information Dayton Office 476 Windsor Park Drive Dayton, OH 45459 888-DOVER01 (368-7601) fax: 937/299-7565 Cincinnati Office 10979 Reed Harman Hwy. Cincinnati, OH 45242 513/794-9955 dover-consulting.com info@dover-consulting.com
Points of View Articles of Interest The Biggest Threat to Economic/Market Stability From the signs we are seeing and the public announcements, there seems little doubt the world and U.S. economies are turning up. Investors are breathing collective sighs of relief that things did not get as bad as many had feared. Many are also assuming things will continue to improve from here. One thing that most may be discounting is the developing geopolitical situation in IRAN. We subscribe to STRATFOR a private economic and geopolitical information service that some have referred to as a shadow CIA. I don’t know about that, but they do provide some very insightful and unconflicted information we often find very useful. Their article entitled “Misreading the Iranian Situation” is provided here for your review. This has the potential to turn the world upside down. We would encourage you to read it. > Read More (Stratfor Global Intell.) Investing Lessons from Golf and Blackjack Players ....In other words, at key moments people refuse to take chances that will make them money. Behavioral finance has a term for this – risk intolerance. And, believe it or not, some of what we know about risk intolerance comes from research into two unlikely topics: the games of blackjack and golf. > Read More (Adviser Perspectives) Hecker vs. Deere Revisited The Court of Appeals for the 7th Circuit recently issued an order in the case of Hecker v. Deere that “clarifies” its earlier ruling in the case…though in our view, the “clarification” is more of a reversal of course. The issue addressed in the new order (and in this Bulletin) is the interplay between ERISA Section 404(c) and the fiduciary obligation to prudently select and monitor the investments offered in a 401(k) plan; that is, if you comply with 404(c), do you still need to prudently select and monitor the investments? > Read More (Reish & Reicher)

Reflections
Market Review & Outlook

It’s two weeks from the end of the third quarter in what continues to be a most eventful year for stock markets and the economy.

It’s also about a year since the weekend that shook the foundations of Wall Street and of the global financial system – when Lehman Brothers collapsed, Merrill Lynch vanished as an independent entity and AIG was taken over by the U.S. government.

In light of that, we thought it might be worthwhile to briefly summarize where we’ve been this year, where we are today and the prospects for the period ahead – and also to highlight some lessons from last year’s financial collapse. ....> Read More

For More Information

Dayton Office
476 Windsor Park Drive
Dayton, OH 45459
888-DOVER01 (368-7601)
fax: 937/299-7565

Cincinnati Office
10979 Reed Harman Hwy.
Cincinnati, OH 45242
513/794-9955

dover-consulting.com

info@dover-consulting.com

Points of View
Articles of Interest

The Biggest Threat to Economic/Market Stability

From the signs we are seeing and the public announcements, there seems little doubt the world and U.S. economies are turning up. Investors are breathing collective sighs of relief that things did not get as bad as many had feared. Many are also assuming things will continue to improve from here. One thing that most may be discounting is the developing geopolitical situation in IRAN.

We subscribe to STRATFOR a private economic and geopolitical information service that some have referred to as a shadow CIA. I don’t know about that, but they do provide some very insightful and unconflicted information we often find very useful. Their article entitled “Misreading the Iranian Situation” is provided here for your review. This has the potential to turn the world upside down. We would encourage you to read it.

> Read More (Stratfor Global Intell.)

Investing Lessons from Golf and Blackjack Players
....In other words, at key moments people refuse to take chances that will make them money. Behavioral finance has a term for this – risk intolerance.

And, believe it or not, some of what we know about risk intolerance comes from research into two unlikely topics: the games of blackjack and golf.
> Read More (Adviser Perspectives)

Hecker vs. Deere Revisited
The Court of Appeals for the 7th Circuit recently issued an order in the case of Hecker v. Deere that “clarifies” its earlier ruling in the case…though in our view, the “clarification” is more of a reversal of course. The issue addressed in the new order (and in this Bulletin) is the interplay between ERISA Section 404(c) and the fiduciary obligation to prudently select and monitor the investments offered in a 401(k) plan; that is, if you comply with 404(c), do you still need to prudently select and monitor the investments? > Read More (Reish & Reicher)