SHARPER    GRANITE
2005:
2007:
Quarter 2:  
Feature Article:   "Behavioral Finance"
Download 2Q07 Economic Outlook Letter:
Each quarter Sharper & Granite presents a letter to clients sharing:

1.  A summary of equity and bond market performance relative to
   the performance of the average of all Sharper & Granite clients

2.  Feature article with insight from our research

3.  Review of our Leading Economic Indicators

Past letters are available below for download in Adobe pdf format.
2006:
Quarter 1:  
Download 1Q06 Economic Outlook Letter:
Quarter 3:  
Feature Article:   "Hurricane Effects"
Download 3Q05 Economic Outlook Letter:
Quarter 2:  
Feature Article:   "The Residential Real Estate Bubble"
Download 2Q05 Economic Outlook Letter:
Quarter 1:  
Feature Article:   "The Mechanics of Interest Rates"
Download 1Q05 Economic Outlook Letter:
2004:
Quarter 3:  
Feature Article:   "Tilting Portfolios to Improve Performance"
Download 3Q04 Economic Outlook Letter:
Quarter 2:  
Feature Article:   "Balancing Portfolios to Minimize Risk"
Download 2Q04 Economic Outlook Letter:
Quarter 1:  
Feature Article:   "Portfolio Rebalancing and Calendar Effects on the Stock Market"
Download 1Q04 Economic Outlook Letter:
2003:
Quarter 3:  
Feature Article:   "Portfolio Construction I:  Asset Allocation of Stocks vs. Bonds"
Download 3Q03 Economic Outlook Letter:
Quarter 2:  
Feature Articles:  "Significance of the New Tax Cut Package"
                       "Studying The 1929 Crash"
                       "SEC Investigates Conflicts of Interest at Major Wall Street Firms"
Download 2Q03 Economic Outlook Letter:
Quarter 1:  
Feature Article:    "Historical Impact of War on Investments"
Download 1Q03 Economic Outlook Letter:
Quarter 4:  
Feature Article:   "Impact of Current Monetary Behavior"
Download 4Q04 Economic Outlook Letter:
Quarter 4:  
Feature Article:   "Portfolio Construction II:  Asset Allocation within Stocks"
Download 4Q03 Economic Outlook Letter:
Quarter 2:  
Feature Article:   "The Importance of Time Frames for Stock Market Volatility"
Download 2Q06 Economic Outlook Letter:
Quarter 3:  
Feature Article:   "Hurricane Effects"
Download 3Q05 Economic Outlook Letter:
Quarter 4:  
Feature Article:   "Dangers of Using Interest Rates for Market Prediction"
Download 4Q05 Economic Outlook Letter:
Quarter 4:  
Feature Article:   "Effects of the Current Extreme in Global Liquidity"
Download 4Q06 Economic Outlook Letter:
Quarter 3:  
Feature Article:   "The Hedge Fund Investment Option"
Download 3Q06 Economic Outlook Letter:
Quarter 3:  
Feature Articles:   "High-yield Bubble Bursts"
                        "Perils of Market Timing"
Download 3Q07 Economic Outlook Letter:
Quarter 3:  
Feature Article:   "Hurricane Effects"
Download 3Q05 Economic Outlook Letter:
Quarter 1:  
Feature Article:   "3 Tax Reminders for Sharper & Granite Clients"
Download 1Q07 Economic Outlook Letter:
Quarter 4:  
Feature Article:   "Portfolio Projections"
Download 4Q07 Economic Outlook Letter:
Quarter 1:  
Feature Article:   "Learning from the Collapse of Bear Stearns"
Download 1Q08 Economic Outlook Letter:
2008:
Quarter 2:  
Feature Article:   "Lessons about 'Sure-things' from Big Brown"
Download 2Q08 Economic Outlook Letter:
Quarter 3:  
Feature Articles:   "Analysis of Housing and the Financial Crisis: Where We Are Headed"
                        "How Tax Rates Will Change"
Download 3Q08 Economic Outlook Letter:
  SHARPER    GRANITE   Economic Outlook
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SHARPER      GRANITE
400 CONTINENTAL PLAZA
SUITE 600
EL SEGUNDO, CA 90245
T  [310] 426 2909
F  [310] 426 2001
E  info@sharpergranite.com
Quarter 4:  
Feature Article:   "Positive Returns Will Spring from Fear Factors"
Download 4Q08 Economic Outlook Letter:
Quarter 1:  
Feature Article:   "Are Stocks Cheap Today?"
Download 1Q09 Economic Outlook Letter:
Quarter 2:  
Feature Article:   "Investing through the Toughest of Times - Expert Advice"
Download 2Q09 Economic Outlook Letter:
Archive:  Past Economic Outlook Letters going back to 2003 are provided below as we believe
the research included provides fundamentally sound investment wisdom in any economic
climate.  We encourage readers to review past feature articles of interest.

We also  welcome readers to view our past positions and judge for themselves ex post the
accuracy of our viewpoints.
2009:
Quarter 3:  
Feature Article:   "Smart College Savings Strategies"
Download 3Q09 Economic Outlook Letter: