For 18 months, we have all heard about the so called oil dividend to consumers – the benefit to consumers’ pocketbooks as a result of a plummeting oil price. Graph 1 illustrates the decline in
Virtually every morning our investment committee engages in a lively exploration of many topics. These discussions range from viewpoints on the macro economic environment, to geopolitical issues, market trends, sector developments, company specific changes, etc.
In Part I of this newsletter we stated that recent volatile markets seem to reflect consternation regarding potential rising U.S. interest rates. Although we believe that rising U.S. interest rates could put pressure on the