Here is a quote this morning from one who has navigated this market and past tough markets well, Ned Davis–not profound, but apropos: It’s always darkest before the dawn. A cynic, not that there are any around here, might say that it’s always darkest before it’s black.
“These are the times that try men’s souls,” – Thomas Paine
“The best way out is always through,” – Robert Frost
In Greek and Roman mythology, Apollo, in our logo in the upper right-hand corner of this page, was said to be the god of truth and prophecy, among other things. He was said to be the source of prophecies that emanated from the Oracle of Delphi. We prefer to think of him as the god of wisdom, and that makes for a better introduction to this quarter’s update anyway. Suffice it to say that after the events of the past fifteen months, thus far culminating in the events of last week, we need some wisdom on Wall Street.
