Our thoughts on the progress of the economy here and abroad are mostly positive because interest rates and oil prices are low and employment continues to improve.
By our count, there are 19 central banks that are dovish with monetary policy and the headwinds of international economies may turn into a tailwind for us here in the US.
As spring arrives, consumer spending may improve as we dust off the snow and ice and head for the showrooms of retailers to buy new cars, homes, furniture and clothes.
The travel, entertainment and restaurant businesses are doing well as consumers with a little extra money take to the skies and highways to reduce symptoms of cabin fever.
The only near term head wind we see is the US Federal Reserve boosting interest rates later in the year. This may cause a short term hiccup in the markets.
Our investment approach is based on seeking to buy companies with consistent earning power, high return-on-equity while employing little or no long-term debt and to purchase at reasonable prices.
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