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Quarterly Investment Commentary

Argent Quarterly Investment Commentary – January 2010

22 January 2010

“By early March 2009, the Dow Jones Industrial Average was down 25 percent, and 54 percent  below its October 2007 highs. We were in the midst of the worst recession since the Great  Depression, and anger at Wall Street had reached a crescendo. Little did we know that just at  that point, during our bungee jump plunge, a record breaking snap-back would begin which  would continue for the final nine months of the year.”

argent semi-annual investment letter january 2010