High Grade Core Intermediate 4th Quarter 2009
During 2009, Samson’s high grade strategy achieved its goal of delivering a stable market return without exposure to the low quality and volatile sectors that can cause conservative investors concern. Just a casual glance at returns shows that 2009 was truly the mirror image of 2008. The market was certain that the world would collapse in 2008 and Treasuries surged. In 2009, the market was certain that the world had healed and Corporates surged. Is it truly possible that the fundamental economical health of the world’s economy and financial system could truly swing from near collapse to all better in months? Or, is it more likely the truth of the condition of the world is somewhere in between?