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Perspectives Newsletter: Q2, 2013
May 2013 marked the seventh straight month of gains in the S&P 500, the longest winning streak since 2009. Despite giving up ground in June, the quarter remained positive for domestic markets. Sector returns were mixed: financials and consumer discretionary led, while utilities, materials and energy were lower. Year to date, small cap, mid cap, and large cap value are the leading asset classes. The rest of the world is well behind, with emerging markets posting ever larger losses. In Asia, Japan’s breathtaking 75% nine month rally ended on May 22, falling 15% from its peak in a week. The Nikkei was still up for the quarter and year to date.Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Parsons Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Parsons Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Parsons Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. If you are a Parsons Capital Management, Inc. client, please remember to contact Parsons Capital Management, Inc., in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing, evaluating, and/or revising our previous recommendations and/or services. A copy of the Parsons Capital Management, Inc.'s current brochure discussing our advisory services and fees is available upon request.
