Central Bankers Steal the Show

October 2012 So far this year global equity markets have been on that proverbial roller coaster, posting sharp gains in the first quarter, losses in the second quarter and solid upward momentum in the recently concluded third quarter. Overall, 2012 has been a fruitful year for both equity and bond investors. During the summer the […]

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Global Economy Downshifting

July 2012 As has been the case for the last three years running, the spring quarter saw Eurozone fears re-emerge and global equity markets suffer. The S&P 500 Index lost 3.39% during the period while China declined 8.5%. Europe surrendered the most ground, with Germany, France and Spain down 14%, 15% and 11%, respectively. As […]

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Investment Outlook: So Far So Good in 2012

April 1, 2012

Global markets continued to rebound from the recent October 2011 lows and powered strongly higher throughout the first quarter of 2012 as confidence in the U.S. economic recovery grew and worries about the Eurozone crisis subsided.  U.S. stocks are off to their best start since 1998, with the S&P 500 Index advancing 12% and the Dow Jones Industrial Average up 8.14%.   (more…)

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Facebook IPO: A Wise Investment?

February 2012

Facebook, the social media giant, recently announced plans to sell $5 billion in stock in an initial public offering (IPO) this spring. This article is our assessment of the Facebook offering and a description of the salient aspects of it we think potential investors should consider. It is not a recommendation to buy, sell, or not to buy any security. It is for informational purposes only and is not investment advice. Orion Capital Management LLC only provides investment advice to its clients under a written advisory agreement. Now, with that said, let’s dig into the details . . .

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2012 Investment Outlook

January 1, 2012

In some of the most volatile global markets in recent years, the S&P 500 Index, after a spirited fourth quarter ascent, ended 2011 virtually unchanged from a year earlier.  U.S. investors may be disheartened at having had to suffer all this volatility with no upward progress in the broad markets to show for it, but the reality is that U.S. equity markets notched a solid performance in 2011 given the year’s numerous upheavals, which included the Japanese tsunami/earthquake/nuclear disaster, the Arab Spring, the U.S. sovereign credit rating downgrade and the European debt crisis.  In the tumult of 2011, the U.S. re-emerged as a relative safe-haven for nervous investors.

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Why Europe Needs Oil

October 1, 2011

For equity investors, the third quarter of 2011 was the worst quarter in three years and it brought back to mind the financial market turmoil in the fall of 2008.  A flight of capital out of risk assets and into conservative assets drove the S&P 500 Index 14.3% lower during the quarter and drove yields on the ten-year U.S. Treasury note down to 1.93%, within a whisper of historic lows.  But while the U.S. market is down 10% year-to-date, it is actually one of the best performing large markets in the world so far in 2011.  Germany is down 20%, the U.K. is down 13%, China is down 16% and Brazil is down 24%.  The dollar and U.S. Treasury debt remain safe-havens for global investors in times of uncertainty.

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