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Click to read full report. Investment Review for Fourth Quarter 2009
We wish you a Happy New Year and we want to thank you for your trust and patience over the past turbulent two years. In the beginning of 2009, the bear market continued and bottomed in March. From the March lows, the market rallied 67% to the end of the year providing a full year return of 26% as measured by the S&P 500 Index. The bond market had a record year as well up 19.7% as measured by the Merrill Lynch Intermediate Corporate Bond Index. Tax Free bonds were the laggard up over 8% for 2009 as measured by the Bond Buyer Index. All in all, we experienced a great rebound from the deeply depressed markets in 2008 and early 2009. We look forward to continued prosperity in 2010; however, our expectations are for more modest growth.
 
Click to read full report. Investment Review for Third Quarter 2009
What a great quarter! The S&P 500 Index was up 15.61%. We just completed the best two quarters in the last ten years. The bond market had an outstanding quarter as well up 6.95% for the Merrill Lynch Intermediate Index, also completing two record quarters in a row.
 
Click to read full report. Investment Review for Second Quarter 2009
We can breathe a sigh of relief as the markets have rebounded significantly from the March lows. For the 2nd quarter the S&P 500 index was up 15.93% producing the best quarterly results in over 10 years. The corporate bond market responded well with a quarterly return of 9.6% as measured by the Merrill Lynch Intermediate index. Municipal bonds were up .45% in the quarter.
 
Click to read full report. Investment Review for First Quarter 2009
After hoping for a brighter 2009, the equity markets continued their weakness in January and February but had a nice rebound in March. We continued to see a barrage of gloomy news in January and February and we are in the midst of an unprecedented bear equity market which is down approximately 50% from the highs. For the first quarter of 2009 the S&P 500 was down (-11.01%) and the Merrill Lynch Intermediate Bond Index was up 0.29%.
 
Click to read full report. Investment Review for Fourth Quarter 2008
Happy New Year! What a joy it is to get 2008 behind us. We have been inundated and saturated with all the doom and gloom in the markets and in the economy. In 2008 we wrote to you about the busted real estate bubble and sub-prime mess. We followed with the massive write-off by the financial sector which ultimately led to the collapse of Bear Stearns, Lehman Brothers, AIG, Wachovia, Merrill, etc. We talked about the government responses through stimulus, lower rates, TARP, increased FDIC limits, etc. All of these things could not keep the markets from logging in one of the worst quarters in history and the worst year since 1931.
 
Click to read full report. Investment Review for Third Quarter 2008
It has been a difficult time in the markets and the last month has been the most tumultuous period in the history of the stock and bond markets. The third quarter of 2008 the S&P was down -8.37% (-19.2% YTD) and the Merrill Lynch Intermediate Bond Index was down -6.69% (-6.75% YTD).
 
Click to read full report. Investment Review for Second Quarter 2008
It has been a tough market for US Equity investors during the first half of 2008. The second quarter started with a rebound but the mood has turned sour as we approached earnings season.
 
Click to read full report. Investment Review for First Quarter 2008
The first quarter of 2008 was marked with turbulence and a historic financial crisis. The S&P 500 was down -9.44% for the quarter while the bond markets as measured by Merrill Lynch Intermediate Corporate Index was up .71%.
 
Click to read full report. Investment Review for Fourth Quarter 2007
2007 was a wild ride! The equity markets started with a bang but ended the year with mixed results. The S&P 500 (dividend included) returned 5.49% and the Lehman Bond Index was up 8.95% for the year. In spite of the turmoil, 2007 was a great year for our company. We have rounded out our team with two new employees that have increased the depth of experience for the firm. We continue to broaden our service offering with enhanced cash flow planning, stock option analysis and other wealth management services. Thank you for your continued confidence in Novare Capital. We look forward to serving you in 2008.
 
Click to read full report. Investment Review for Third Quarter 2007
The third quarter was marked by volatility as evidenced by a 9.4% decline from mid-July to mid-August followed by an 8.7% rally from mid-August to mid-September. After the dust settled, the S&P 500 (dividend included) was up 2.63% for the quarter and the Lehman Intermediate Bond Index was up 3.60% for the quarter. Once again, the volatility in the markets points to the need for a diversified portfolio and a long-term investment game plan which should keep investors from making “emotional mistakes”.
 
Click to read full report. Investment Review for Second Quarter 2007
After a terrific start for the equity markets, we experienced turbulence in late May and early June due to higher rates and global inflation concerns. The S&P 500 for the second quarter was higher by 6.28% and year to date the performance is 6.96%. The Lehman Bond Index was flat for the quarter and is up 1.46% for the year.
 
Click to read full report. Investment Review for First Quarter 2007
The equities markets were volatile during the first quarter. On February 27, 2007 the Asian market plunged roughly 8-9% overnight and the repercussions spread through the rest of the world. This U.S. downturn was exacerbated by fears that problems in the subprime loan market would lead to a financial crisis and economic downturn. These problems abated leaving investors with the opportunity to shop for bargains. This was a necessary and long awaited correction.
 
Click to read full report. Overview of 2006
The equity markets started 2006 on a positive note and did not disappoint. The S&P 500 returned 15.9% and the Lehman fixed income index was up 2.49% for the year. Novare Capital is pleased to report good returns for 2006, and we attribute this to our experience in the markets and our
in-depth analysis of our portfolio companies.
 		 
Click to read full report. Investment Review for the Third Quarter 2006:
The third quarter was one of the best in recent history for stocks. The S&P 500 was up 5.67% for the quarter and up 8.52% for all of 2006. Bonds were less ebullient ending the quarter up 2.93% and the year up 1.72% as measured by the Lehman Intermediate Index.
 
           
  Click to read full report.   Investment Review for the Second Quarter 2006:
 The second quarter 2006 was not as good as first. The month of May was particularly hard with large capitalization stocks losing about 3% and the small caps losing around 6%. The S&P 500 (dividend included) was down 1.44% for the 2nd quarter and up 2.71% for the 1st half of 2006. We are pleased to report that overall our portfolios outperformed the market.
 		   
           
  Click to read full report.   Investment Review for the First Quarter 2006:
2006 started on a solid note. The S&P 500 Cash Index (ex. dividends) posted a strong 3.73% gain for the quarter. The bond market suffered under the pressure of rising short-term rates. The Lehman Intermediate Bond Index was down 1.41% for the quarter.
    
           
  Click to read full report.   Investment Review for 2005: A Ho-Hum Year at Best
After having good returns in 2004, the market for 2005 was lukewarm. The cash S&P 500 returned +3.00 % and the Lehman Bond Index was higher by 1.76% for the year.
    
           
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