MONDAY JUNE 28, 2010

G20 Clarity

The conclusion of the G20 economic summit was underwhleming.  The Europeans want to "ensure investor confidence" by establishing specific deficit reduction targets.  The U.S. wants to "ensure investor confidence" by creating even more stimulus.  The two sides had little chance of agreement on this matter, so we are left with statement that essentially states that the G20 will stabilize deficits while spurring growth through greater stimulus.  George Orwell would be proud!  Even more baffling, the media is reporting a strong opening to the market this morning based on the G20 statement!  Go figure!

POSTED AT 1899-12-30 09:17:00.0

KEN ENTENMANN, CFA
SENIOR VICE PRESIDENT AND
THE DIRECTOR OF INVESTMENT MANAGEMENT SERVICES

Ken is a Senior Vice President and the Director of the Trust and Investment Services at Alliance Bank, N.A. He has 23 years of investment experience and oversees the management of assets totaling $1 billion. He holds a B.S. in Applied Economics and Business Management from Cornell University and an M.B.A. from the William E. Simon Graduate School of Business Administration at the University of Rochester. He has also earned his Chartered Financial Analyst designation. He is a member of the Executive Committee of the Trust Division of the New York Banker's Association. He is also a director of the Central New York Community Foundation.

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