January 2007 Performance

Stock market began 2007 with a strong month. The large-cap S&P 500 (as measured by the Vanguard 500 Index fund) gained 1.5% in January, while the small-cap Russell 2000 iShares gained 1.7%. Mid Cap stocks generated 3.4%, outperforming both larger- and smaller-caps. Based on Russell indexes, growth outperformed value across all market caps. Foreign stocks, based on Vanguard’s Total International Stock Fund, were up 1%. On the fixed-income side, domestic investment-grade bonds were down slightly, while Salomon’s foreign bond index was down 1.4%. Emerging-markets short-term bonds were also down, but fared a bit better than their longer-maturity, developed-market counterparts. PIMCO Developing Local Markets lost just over 1%. REITs (Real Estate Investment Trusts) continued their relentless climb with an 8.5% gain in January. When will that bubble ever pop?

Also here is the web link to our Fourth Quarter Newsletter

http://www.altamontwealth.com/newsletters.html