Our archived letters are in a PDF format which requires Adobe Acrobat Reader to view. If you do not have a copy of Adobe Acrobat Reader, you can get a free copy here.
		Jan 2009 The Worst Year Since the Thirties
		Oct 2008 The Financial System's Meltdown
		Jul 2008 Expect Sharply Higher Income Taxes in 2009
		Apr 2008 The Financial System "Seizes Up", The Federal Reserve Steps In
		Jan 2008 2007 Review: 2008 Outlook
		Oct 2007 The Global Barbell - Strong International Growth vs. Weak U.S. Housing
		July 2007 Record Corporate Liquidity Means Record Equity Shrinkage
		April 2007 Much Volatility but Little Movement in Stock Prices
		January 2007 The Outlook for 2007
		October 2006 Is the Fed Pushing the Economy Toward a Recession?
		July 2006 What Happened to the Stock Market in the Second Quarter
		April 2006 A Strong Economy and a Strong Market
		January 2006 The Outlook for 2006
		October 2005 Hurricanes, the Fed and Energy
		July 2005 Oil, the Fed and Corporate Cash
		April 2005 A Mid Cycle Slowdown Would Be Good For Stocks
		January 2005 What will U.S. Corporations Do with $1Trillion in Cash?
		October 2004 The Economy Grows Despite $50 Oil and Hurricanes
		July 2004 Managing Equities in the Face of a Tightening Fed
		April 2004 Behind the Media Rhetoric - The Economy Recovery Looks Real
		January 2004 Business Spending Grabs the Baton in the Economic Recovery