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Quarterly Investment Commentary

Argent Quarterly Investment Commentary – April 2012

30 April 2012

“I skate to where the puck to is going to be, not where it is.”                                                                                  – Wayne Gretzky

Just as Wayne Gretzky had to picture how a play might develop so that he could skate to where someone could pass him the puck, investors must try to visualize the future when positioning themselves for long-term stock and bond market gains.  This frequently takes the ability to look beyond short-term news.  Woodrow Wilson once said, “The man who is swimming against the stream knows the strength of it.”  So too for investors.  Discounting short-term popular sentiment in order to keep the proper long-term perspective is always a challenge.

Argent Quarterly Investment Letter April 2012