RCM Robinson Capital Management LLC
 
  The Robinson Report           A quick and simple weekly market performance report.
Friday, February 24, 2006

 

 


Week in review:  

  • Durable Goods Good  - Take out the volatile airplane purchase orders which vary greatly month to month (+49% in Jan, +185% in Dec., +169% in Nov.), and durable goods rose 0.6% in January after a 1.9% increase in December.

  • Tame Inflation - The core rate of inflation (less food and energy) was reported at a mild 2.1% annual rate in January.

  • Low Tax Rates - Both the Senate and House have passed legislation since 12/05 (reconciliation in a conference committee is now needed) that would extend 15% taxation on dividends and capital gains for two additional years beyond its current expiration of 12/31/08. Prior to the tax rate reduction to 15% (done with a law from 5/28/03), dividends had a maximum tax rate of 38.6% and capital gains had a 20% maximum rate.

  • Holding Back - The IRS reported last week on a three-year study of tax returns of Americans from calendar year 2001. The government concluded that through a combination of (1) underreporting of income, (2) underpayment of taxes or (3) simply not filing a tax return, Americans did not pay $345 billion of income tax that they should have paid, i.e., the tax gap. Five out of every six dollars of the tax gap is the result of underreporting of income. The nation's budget deficit in fiscal year 2005 was $319 billion.


ASSET CLASS RETURNS 


  


Portfolio Performance REVIEW 

 

   
 
 

"The great use of life is to spend it for something that will outlast it."
-- Williams James

 

% change in week ending 2/24/06

S&P500

0.17

US Lg Val (Russell 1000 Value)

0.56

US Sm (Russell 2000)

0.64

Intl (EAFE)

1.64

Intl Sm (EAFE Small)

3.21

3-5yr Govt (Bloomberg)

0.07

 

 

 

 

% change

Bloomberg Silicon Valley Index

Last 12 months

6.00

YTD

2.53

Last 5 sessions

0.40

 

 

% change

Global Hedge Fund Index  (2/22/05)

Last 12 months

5.62

YTD

2.23

Last 5 days

(0.05)

 

CONTACT US

RCM Robinson Capital Management LLC
27 Reed Blvd, Mill Valley, CA 94941
Tel: 1.415.771.9421
Fax: 415.762.1980
Email

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portfolio Performance is calculated by the Bloomberg Professional System on a total return basis. Current portfolio allocations

 

Important Performance Disclosure Information  

Portfolio Performance is the total return of seven unique asset allocation strategies that seek to fit the distinct needs of different investor goals, risk tolerance levels and investment time horizon. Each portfolio contains up to 16 individual funds totaling over 4000 securities, managed by OppenheimerFunds. The portfolios are designed to create efficient diversification through the selection of lower correlating asset classes. The purpose of these tables and charts is for you to follow specific market indexes, observe asset class rotation and to compare actual portfolio returns. 


Portfolio Performance is the total return of seven unique asset allocation strategies that seek to fit the distinct needs of different investor goals, risk tolerance levels and investment time horizon. Each portfolio contains up to 16 individual funds totaling over 4000 securities, managed by OppenheimerFunds. The portfolios are designed to create efficient diversification through the selection of mutual funds that may have a  low correlation between asset classes. The purpose of these tables and charts is for you to follow specific market indexes, observe asset class rotation and to compare actual portfolio returns net of management fees. Asset allocation strategy is available here.

 

Before investing in any of the OppenheimerFunds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. The fund's prospectus contains this and other information about the fund. Read prospectuses carefully before investing.      

S&P 500 - Standard & Poor's 500 Index (not including dividends) - generally considered a U.S. Large Growth company market index.

Russell 1000 Value Index (US Lg Val) - generally considered a U.S. Large Value company market index.

Russell 2000 Index (US Sm)- generally considered a U.S. Small company market index.

EAFE - EAFE Index (Intl) (not including dividends) Europe, Australia, Far East and generally considered a large company international market index.

EAFE Sm - EAFE Small Index (Intl Sm) (not including dividends) Europe, Australia, Far East and generally considered a small company international market index.

Bloomberg Silicon Valley Index - market index of high tech companies located in the Silicon Valley area. 
Global Hedge Fund Index - representative of the overall composition of the hedge fund universe. It is comprised of eight strategies: 
convertible arbitrage, merger arbitrage, equity hedge, equity market neutral, relative value arbitrage, event driven, distressed securities, and macro. The strategies are asset weighted based on the distribution of assets in the hedge fund industry. See hedge fund risks. 

3-5yr Treas. - Bloomberg U.S. Government Treasuries 3-5 year maturities index and generally considered a intermediate maturity U.S. Government Note index.

All investments involve risk, including loss of principal. Foreign securities involve additional risks, including foreign currency changes, political changes, foreign taxes, and different methods of accounting and financial reporting. The foregoing has been prepared solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.  

The information contained herein is based on sources and data believed reliable, but is not guaranteed. Advisory services offered through RCM Robinson Capital Management LLC, SEC Registered Investment Advisor. Securities offered through Securities America, Inc., Member FINRA/SIPC. Douglas C. Robinson, Registered Representative. RCM Robinson Capital Management LLC and Securities America, Inc. are separate and unaffiliated.

 
RCM Robinson Capital Management LLC, Securities America, Inc, 27 Reed Boulevard, Mill Valley, CA 94941

(phone) 415-771-9421       (fax) 415-762-1980