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Yearly Archives: 2012
An OPEd Worth Reading
We really enjoyed the attached OPEd piece in this morning’s Wall Street Journal as it reflects our current thinking and general views of the past year. While the world economic situation may not feel ideal, opportunity beckons in the United States. We really believe it!
Posted in Blog
Tagged Broadleaf, Broadleaf Partners, Doug Mackay, Economy, Fracing, Hydraulic Fracturing, Manufacturing Renaissance, Natural Gas, Oil, United States, US, WSJ
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Nothing Changed
Many events have transpired since our mid-September update, but not much has really changed. Economic growth should remain slow for as far as the eyes can see, as each region of the world struggles with its own version of the New Normal. Capitalistic animal spirits have gone the way of the modern American male and [...]
MacKay Presents at Vegas Convention
On November 8, 2012 Broadleaf Partners’ Chief Investment Officer, Doug MacKay, spoke at the First American Homebuilder Services Roundtable VII at the Mandalay Bay Hotel & Casino in Las Vegas. Doug was invited to share his thoughts on the economy, along with his current investment outlook to executives at the nation’s top homebuilders. For more information [...]
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Third Quarter 2012 Performance Commentary
In spite of well publicized worries over a dysfunctional government, the impending fiscal cliff, and slower earnings growth, the markets did what they usually do during such periods by confounding the experts. During the third quarter, the S&P gained more than six percent. The Broadleaf Growth Equity Portfolio (BGEP) gained a solid 5.1% on considerable [...]
Posted in Blog
Tagged BGEP, Broadleaf, Broadleaf Partners, Finance, Growth Equity, Growth Fund, Money Manager, Stock Market, Stocks
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All In
Dissatisfied with progress on the jobs front, the Fed went “all in” yesterday in its much anticipated, most recent policy announcement. Unlike QE1, QE2 and Operation Twist, the latest addition to the monetary smorgasbord is open-ended, meaning that it has no pre-established termination date. (View a printable version of this Economic Update: All In). Policy, we [...]
Posted in Economic Updates
Tagged Bernanke, Broadleaf, Broadleaf Partners, Economics, Fed, Federal Reserve, Investments, MBS, Monetary Policy, QE3, Quantitative Easing, Stock Market
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Driving with the Doors Off
Two months ago I bought a bulldozer-yellow Jeep Wrangler, replacing my eight year old black Audi A6. While the A6 had been a wonderful car, I was ready for something new and a Jeep fit the bill. The Jeep is large enough that I can drive my family around and while the gas mileage isn’t [...]
Posted in Economic Updates
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Second Quarter 2012 Performance Commentary
The stock market took a breather in the second quarter, falling 2.8%. If it hadn’t been for a stronger June, the results could have been worse. The Broadleaf Growth Equity Portfolio (BGEP) declined more than the S&P 500 as our positions in the consumer discretionary and technology sectors were pressured more than the market as [...]
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While Economic Concerns Remain, Corporate Fundamentals and Earnings Look Fine
Companies Owned: Sector Earnings Summary Rev Y/Y Surprise EPS Y/Y Surprise Consumer Discretionary 23% -9% 21% 25% Consumer Staples 9% 0% -10% 11% Energy 22% 1% 38% 0% Financials 16% 2% 49% 12% Health Care 21% 6% 6% 9% Industrials 19% 0% 17% 4% Information Technology 47% 4% 164% 140% Materials 18% 12% 26% 10% [...]
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Our Take on Today’s Payroll Numbers
This morning’s payroll numbers were disappointing, a fact that is being reflected in the performance of today’s stock market, now down nearly 2%. Total non-farm payrolls were expected to show a gain of 150K, but increased only 69K, while the total unemployment rate edged up to 8.2% from 8.1% previously. While still in positive territory, [...]
Posted in Economic Updates
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Broadleaf Partners Recognized As Top Money Manager
Broadleaf Partners was recently recognized by Lipper Marketplace as a Top Money Manager in the U.S. Large-cap Growth Equity category for the three years ending 3/30/2012. To view the top 40 rankings, please click the link below. Lipper Top 40 Money Managers – 3/30/12 For more information about the Broadleaf Growth Equity Portfolio, please contact Bill [...]
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