1 - Talk about volatility. Despite the best week for U.S. stocks in almost three years, we are still slightly behind where we were just two weeks ago. This week promises to be just as rocky, as the leaders of the 27 nations constituting the European Union meet Friday to consider binding themselves into a closer political union. If they can do it, it could be an extremely promising signal to financial markets. If they can't, well....
2 - Last night, Bloomberg ran an excellent article outlining the important issues surrounding this week's meetings in Europe. If you have an interest in understanding the situation, I commend it to your attention. Click here to read it. In addition, last week's video commentary is just as applicable this week as it was then, so we're running it again below.
3 - Last Thursday evening, about 55 clients and guests set aside their worries and kicked off the holiday season in the Depot Room. We enjoyed hot cider, a fabulous Pat Strother-catered dinner, Juliet's homemade cheesecake bars, and and It's a Wonderful Life on the big screen. I was taken aback by the large number of attendees who said they had never seen the movie before; of course, they all loved it. Even for those of us who had seen it many times, its theme -- the notion that real wealth lies in doing good for others -- resounded once again. There's something about watching a classic film the way it was intended to be seen -- on the silver screen in a darkened room and surrounded by an appreciative audience -- that makes for a special experience. For those clients who have been unable to attend one of our "dinner and a movie" events, I hope you can make the next one.
Be thankful for our wonderful community. Have a terrific week -- and remember: do your Christmas shopping locally!
We ran this video with last week's update, but it applies just as much this week as it did then. And since quite a few readers didn't watch it, we're running it again. It takes a very brief look at (1) the U.S. and European economic picture; (2) its potential implications for investors; and (3) what we're doing about it at Millard & Company.