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Quarterly Investment Commentary

Argent Quarterly Investment Commentary – January 2014

04 April 2014

“Now and then, it is good to pause in our pursuit

of happiness and just be happy. ”   – Guillaume Apollinaire

The Dow Jones Industrial Average reported 50 record highs – the largest annual gains for U.S. stocks since the 1990s; auto sales were back to pre-recession levels; we saw a vastly improved housing market; the majority of corporate earnings were up nicely and stock buy-backs and dividends were also up; we saw America’s shocking return to the stage as the world’s leading energy producer.  What a year!  And, what an appropriate time to sit back and take a moment to reflect on just how much better things are today than they were a few short years ago.

Argent Quarterly Investment Letter January 2014