19 Oct October 2013: Five Years Later
The month of September marked the five year anniversary of a seminal event in the modern history of financial markets: the failure of Lehman Brothers, the largest bankruptcy in the history of the United States. While a lot has changed, much stays the same: uncertainty still exists in the financial markets, the word “crisis” remains on the tip of our tongues, and the nation is polarized – some say paralyzed – as the result of political theater. Further, Greenwood Gearhart’s investment strategy has stayed as consistent over the last five years as it did the previous twenty-five. Our competitive advantage of a long-term time horizon coupled with the perspective and experience that comes with navigating thirty years of markets, proves once again to be effective in times of crisis. By consistently implementing our process, we exploit temporary asset mispricings and profit generously as the economy improves. The returns we’ve achieved for our clients’ portfolios are gratifying.