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July 3, 2001

Here we are July 3 and I am writing to share our opinions and outlook for the coming weeks.

For the first six months of 2001, we have seen the market transitioning from a declining market in the first quarter to a bottoming market in the second quarter. The S&P 500 is down 7.3% and the Nasdaq Composite is down 12.6% on the year.

THE ECONOMY

Economic activity is still slowing worldwide as the technology bubble of 1998-1999 and early 2000 is being deflated. Over-ordering for Y2K and double ordering by customers who were expecting shortages have led to . . .
Continue Reading: July 3, 2001

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