April 2012 Commentary
The past six months realized a period of strong stock market growth as concerns over a financial meltdown in Europe lessened. The high anxiety accompanying stock market lows of October 2011 has shifted to balanced optimism for the future. There are many potential shocks that could revive fears of financial crisis, but the risk of a liquidity crisis (in the short-term at least) is clearly less than it was just several months ago.