Wednesday, July 22, 2015

Investor Letter Summer 2015: Countries/Territories Unable To Pay Their Debts

In our recently published Summer 2015 Investor Letter we highlight issues impacting the market in the first half of the year. In the second quarter the world was not short of market influencing events as Greece, China and Puerto Rico all dominated the headlines.  The second quarter proved to be another challenging quarter partially due to these events and volatility erased much of the year’s gains. However, U.S. economic data was certainly a bright spot as positive reports provide some optimism as we enter the second half of 2015.  Beginning in the third quarter, the headwind resulting from the strong US Dollar and energy weakness should begin to subside and make year over year comparisons more normalized.

Also, we welcomed two new employees to our investment team in the quarter:

Senior Portfolio Manager, Todd Poellein, CFA
Todd joins HORAN Capital Advisors with over 10 years of portfolio management experience and nearly 20 years of industry experience. Todd graduated from the Kelly School of Business at Indiana University and spent a number of years at PricewaterhouseCoopers and Fifth Third Bank. He holds the Chartered Financial Analyst (CFA) designation and will bring great value to our client relationships with his knowledge of portfolio construction, security analysis and long-term planning.

Investment Associate, Matthew Woebkenberg
Matt is a recent graduate of the University of Notre Dame where he carried high honors while majoring in Finance and Spanish. Matt is already pursuing his CFA designation and will take Level I this December. Matt will support the portfolio managers at HORAN Capital Advisors and we look forward to his contributions.

For additional insight into our views for the market and economy, one can read our Investor Letter accessible at the below link.
From The Blog of HORAN Capital Advisors

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