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PARK PIEDMONT ADVISORS COMMENTS: 2003

Below are past issues of the PPA Monthly Comments.
(These are in PDF format).

December 2003

• Factors influencing stock prices
• Corporate profitability, interest rates and inflation, demographics, employment, terrorism concerns

November 2003

• Scandal in the mutual fund industry, especially concerning Strong funds
• Corporate profits, including quotes from new book by John Allen Paulos, "A Mathematician Plays the Stock Market"

October 2003

• Scandal in the mutual fund industry, with comparison between active and passive management

September 2003

• Causation in the liquid markets, including quotes from Paulos' book

August 2003

• Causation and attempts to "beat the markets", including quotes from Paulos' and other academic books

July 2003

• Relationship between bond prices and interest rate changes
• Advantages and disadvantages of index investing

June 2003

• Objectives-based investing, with focus on asset allocation and indexing

May 2003

• Inflation and deflation
• Currency prices, including declining value of the dollar
• Tax law changes, including dividend and capital gains rates
• Employment and its effects on market prices

April 2003

• Problems associated with "market timing"
• Advantages and disadvantages of rebalancing

March 2003

• Bond basics

February 2003

• Fundamentals of investing
• Current events and their effects on market prices
• Pros and cons of stocks as part of an investment portfolio

January 2003

• Specifics on index investments
• Causation and the use of market price history