The Essex Exchange, 1st Quarter 2015

A few weeks ago, the current bull market reached the elderly age of six years since the financial crisis of 2008 and ensuing panic-induced selling created a market bottom on March 9, 2009. Since this nadir, the S&P 500 Index has appreciated more than 200%, leading to much angst, analysis, debate and prognostication with many calling for a necessary end to the exuberance. We can’t pretend to be more prescient than other market participants, but we would like to share our thoughts on the market’s journey over the past six years and where we find investment opportunities today.

Q1 2015 Essex Newsletter.pdf