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Quarterly Investment Commentary

Argent Quarterly Investment Commentary – January 2013

06 February 2013

“It is not the strongest of the species that survives, nor the most intelligent, but the ones most responsive to change.” – Charles Darwin

Pop the corks!  Let the champagne flow!  Despite a contentious election, a year-end fiscal cliff and the continuing European debt crises, 2012 was a year for investors to celebrate.  Businesses worldwide have quickly adapted to the rapidly changing economic landscape, leading to surprisingly good stock market performance.  The average U.S. stock was up over 15 percent, and most investors of funds managed by Argent did even better, relatively one of Argent’s very best years for both Large Cap and Small Cap strategies.

Argent Quarterly Investment Letter January 2013