Durig Capital 4th Quarter 2009 prefomance letter

Posted by admin on: 2010-02-15 23:32:17

Durig Capital Fiduciary Investment Adviser

We completed the Fourth Quarter of 2009 - another outstanding quarter. The stock and bond market have settled down, and it might be a boring year compared to the wild 2009. We are still modeling towards more of an up and down market. We are out of the rescission, but the economic growth in our economy looks to be slow and lethargic, yet improving. It's our belief that US job growth will be anemic, keeping pressure on the Federal Reserve to leave the historic, very low rates in place for an extended period.

On Stocks: This is the market we love. We seem to be able to find the individual companies that are able to gain traction in the World recovery that have extremely low values. It is very enjoyable to have our firm's clients climb to a higher level of performance, while we focus on better service and personal and professional care. It appears that not only the returns from the last quarter were exemplary but also that our new approach and diversification seem to be growing assets with less volatility to the market - overall growth seems slower, but a more constant path. Slow and steady!

On Bonds: With Government still spending money in a fashion we have never seen and interest rates close to our historic lows, we are still targeting and finding good yields, with strong balance sheets and shorter maturities. We call that the sweet spot (good yield with shorter maturities). We are finding bonds in the 4 -7 year time frame. We have mixed many portfolios with our bond and income, and that combination has also worked very well. Since we have outstanding availability of all fixed income, it allows us to balance the portfolio to achieve the individual needs of our clients.

We always put our clients' interest first.

CEO Randy Durig