Dave Canal's blog

Contravisory Year-End Letter to Investors

Today we'd like to share with you our year-end letter to clients.  In it, Contravisory President Bill Noonan reflects back on 2009 and looks ahead to 2010 with great optimism.
 

Exxon Mobil Fails to Keep Pace

This week we take a look at the most widely owned stock in the equity marketplace, Exxon Mobil (XOM).  Since the March low, most Energy stocks have performed inline or better than the market, but with some exceptions.  The key energy laggards have been within the integrated oil and gas industry group and the most noteworthy is Exxon Mobil.   This large cap behemoth has struggled mightly to keep pace with the market's linear advance off the March '09 lows, and as a result, carries a bearish signal in our work.

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Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.

– Alan Greenspan

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