Greek concerns cause a market pull back

Friday we saw the US & International markets pull back as the situation in Greece continues to evolve. As Oscar Wilde said, "To expect the unexpected shows a thoroughly modern intellect."

Research shows corporate profits to be the driver of long-term stock market returns, yet there is no doubt that macro events and government fiscal and monetary policy will continue to play a much bigger role in short-term market direction than was historically the case.

In regards to Europe, there are multiple parties that have to agree on multiple issues. It is normal to expect posturing from time-to-time from each party involved. Ultimately it seems something will get done – either Greece stays in the Eurozone or they don’t. There seems there will be a “cost” to Greece, European Governments, and investors in either case. So let’s get on with it and resolve the issue.

A good article on Money.CNN.com titled: “Greece: One Step forward, two steps back”, sums up the various points of view well (Click HERE to read).