The second quarter, unlike the first, was a rocky one for the stock market. While earnings season remained strong, a number of event driven factors including Japan, Greece, excessive rain in the U.S., and rising food and energy costs weighed on leading economic indicators of the economy and eventually, the stock market.
During the quarter, Broadleaf was ranked by Crain's as the fastest growing money manager in Northeast Ohio for 2010. To support our continued growth, we recently hired our first full time research analyst, Mike Czekaj.
In addition to assisting with our research efforts for the portfolio, Mike will also help us in the areas of compliance and information technology. Mike is a native of Chicago and a 2011 graduate of Miami University with a degree in Finance. Welcome Mike!
For additional details on our firm's performance, our investment outlook, and related disclosures, please read the attached Second Quarter 2011 Commentary & Performance.