Posted By Jeb on January 12, 2010
General Market Comment: January 11, 2010
The market had a solid opening week for 2010. Market lore since 1950 is that the market goes on to rise for the year in over 86% of the cases if the first week is a gain. Keep in mind that the first week was a loss in 2009 and in 2008 so this indicator is not entirely reliable.
January is usually the best month of the year for the NASDAQ although it was down in both 2008 and 2009. Strong earnings reports this month should allow the rally to continue in the near term.
Earnings reports get kicked off this week however the largest number of reports will occur starting Jan. 18. There are at least 8 broker sponsored investor conferences this week headlined by the JPMorgan Healthcare conference. Needham also holds their popular growth stock conference this week. We will see a flood of analyst reports over the next 30 days.
We will keep our commentary short this week. I will add color as we get further into the earnings season. There has not been any material change to earnings estimates in recent days either in the broad market sense or in our names.
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About The Author
Mr. Terry draws upon over 30 years of investment experience in the areas of venture capital, leveraged buy outs, foreign emerging markets and public stock markets.
From 1976 to 1980, Mr. Terry was engaged in venture capital and corporate finance at First National Bank in Dallas. From 1980 to 1986 he was engaged in private equity investing in diverse industries. From 1986 to 1990 Mr. Terry was Co-General Partner of a private hedge fund affiliated with a high net worth Texas family office, involved in investment activities including convertible arbitrage, venture capital and strategic investing in public securities.
From 1991 to 1996 Mr. Terry managed a team of four professionals to provide hedge investment services to high net worth clients. Hedge services included rigorous fundamental evaluation and technical analysis of portfolio companies.
Prior to starting Aberdeen in August, 2001, Mr. Terry was a VP in the Private Client Services Group of Bear Stearns & Co., Inc. focused on technology and emerging markets.
Mr. Terry has an MBA from Columbia Graduate School of Business and a BBA from Southern Methodist University. Mr. Terry is a Registered Investment Advisor in the state of Texas.
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