Quarterly Market Commentary | April 2015
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Quicksilver Markets
M.L. Ballew III
Founder and Chairman of
the Board
Bachelor of Business
Administration – University of
Oklahoma
Juris Doctorate – Oklahoma
College of Law
Master of Laws in Taxation –
New York University
Certified Public Accountant
Over 45 years of investment
management experience
Current vs Historical Equity Bull Markets
Valuation Metrics Nearing Extremes
Warren Buffet Indicator Approaching Two-Sigma
Threshold
Earnings Trend and Mean Reversion
Financial Stability Implications
For this quarter’s Market Outlook, I thought I would provide you
with a lengthy but accurate assessment from the Office of Financial
Research that risk assets are not likely to compensate investors for
the risk being taken.
The Office of Financial Research (OFR) was created under the
Dodd-Frank Wall Street Reform and Consumer Protection Act after
the 2008 financial crisis. The primary purpose of the OFR is to
promote financial stability in the increasingly complex global
financial system. Their March 17 article seemed particularly timely
as the assessment of OFR agrees with our own in that future returns
will likely disappoint.
Click below to read the article by Ted Berg of the OFR.
4800 I-55 North, Suite 21
Jackson, MS 39211
Read Ted Berg's Financial Research Here
Post Office Box 14888
Jackson, MS 39236-4888
Phone: 601-368-3500
www.sbcorp.com
First Annual Global Macro Investment Symposium
Also, we are pleased to announce the first of three investment
symposiums that we will host through the course of this year.
“Allocating Capital in a Repressed Environment” will be our first
global macro oriented conference to be held on Thursday, April 23,
in Florence, Alabama at the Marriott Shoals Hotel & Spa. If you are
available, we would like to encourage you to join us as the material
promises to be insightful, entertaining, and hopefully profitable.
You may click on the below link to register.
As always, we welcome your questions and comments and are
thankful for the trust you place in our investment advisory services.
Matt Ballew
The Quarterly Market Commentary is a quarterly publication for the benefit of the clients of Ballew/Russell, Inc.
Pursuant to the provisions of Rule 206(4)-1 of the Investment Advisors Act of 1940, we advise all readers to
recognize that they should not assume that recommendations made in the future will be profitable or will equal the
performance of past recommendations. The contents of this letter have been compiled from original and published
sources believed to be reliable but are not guaranteed as to accuracy or completeness. M. L. Ballew, III and T. Doug
Dale, Jr. serve as portfolio managers at Ballew/Russell, Inc., a registered investment advisor, Ballew/Russell, Inc. is
affiliated with Ballew Investments, Inc., a fully-disclosed introducing broker/dealer and FINRA/SIPC Member
utilizing the clearing services of Pershing, LLC. Ballew/Russell, Inc. and Ballew Investments, Inc. are both
subsidiaries of Security Ballew, Inc. Clients of Ballew/Russell, Inc. may have positions in and may from time to time
make purchases and sales of securities mentioned herein.
SB Advisors
M. L. Ballew, III, CPA, JD, LLM, Chairman of the Board
C. Brooks Mosley, CPA, President
Karl E. Byrd, CFP, Shareholder
T. Doug Dale, Jr, CRPS, MBA, Shareholder
James A. Hurt, CLU, ChFC, CSA, Shareholder
Alan McCormick, MBA, CFP, Shareholder
Robert Scott Rives, CRPS, Shareholder
Bradley J. Blakney, Client Advisor
Security Ballew Wealth Management is a comprehensive wealth management firm serving high net
worth individuals, foundations, corporations and institutional pension funds. Among the firm's
subsidiaries, IPS, serves as a TPA consultant to hundreds of corporate sponsored qualified 401(k)
retirement programs.
Copyright © 2015 Security Ballew, All rights reserved.
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