Argent Quarterly Investment Commentary – July 2011
“ I could end the deficit in five minutes. Just pass a law that anytime there is a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for election.”
– Warren Buffet
Perhaps we need to elect Warren Buffett President. He has a way of seeing things with absolute clarity. Fortunately, the circus going on in Washington in recent months has not dramatically impacted market performance – at least not yet. While stocks in the second quarter of 2011 did little, overall it was a very good first half with mid-to-high single-digit gains for most stock market sectors. Argent is particularly pleased with the performance of its client portfolios. Both large cap and small cap strategies did very well relative to indices and peers.