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	<title>Market Commentary</title>
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	<link>http://farrmiller.com/blog</link>
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	<pubDate>Mon, 14 May 2012 13:32:47 +0000</pubDate>
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		<title>Michael K. Farr is Positive on Earnings &#124; May 9, 2012</title>
		<link>http://farrmiller.com/blog/michael-k-farr-is-positive-on-earnings-may-9-2012/</link>
		<comments>http://farrmiller.com/blog/michael-k-farr-is-positive-on-earnings-may-9-2012/#comments</comments>
		<pubDate>Thu, 10 May 2012 20:49:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1042</guid>
		<description><![CDATA[
]]></description>
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		<title>Michael K. Farr - April 25, 2012</title>
		<link>http://farrmiller.com/blog/michael-k-farr-april-25-2012/</link>
		<comments>http://farrmiller.com/blog/michael-k-farr-april-25-2012/#comments</comments>
		<pubDate>Wed, 25 Apr 2012 22:24:28 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Commentary]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1037</guid>
		<description><![CDATA[
]]></description>
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		<title>Further Gains for the Banks?</title>
		<link>http://farrmiller.com/blog/further-gains-for-the-banks/</link>
		<comments>http://farrmiller.com/blog/further-gains-for-the-banks/#comments</comments>
		<pubDate>Wed, 18 Apr 2012 13:27:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1055</guid>
		<description><![CDATA[Exactly three months ago on January 18, our Market Commentary discussed whether or not it might be time to increase exposure to bank stocks. We noted that following several years of dramatic underperformance, the sector had begun to outperform. We suggested that the recent strength in the sector had been due to 1) super-cheap valuations; [...]]]></description>
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		<item>
		<title>What&#8217;s Gotten Into the Stock Market?</title>
		<link>http://farrmiller.com/blog/whats-gotten-into-the-stock-market/</link>
		<comments>http://farrmiller.com/blog/whats-gotten-into-the-stock-market/#comments</comments>
		<pubDate>Wed, 04 Apr 2012 13:24:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1050</guid>
		<description><![CDATA[Following steady gains for most of the year, stocks are experiencing a bit of a sell-off today. The major market indices are down over 1% as the &#8220;risk trade&#8221; comes off, at least temporarily. As expected, we are seeing the heaviest selling among the more cyclical sectors - Energy, Materials, and Financials - that have [...]]]></description>
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		</item>
		<item>
		<title>The Effects of Quantitative Easing</title>
		<link>http://farrmiller.com/blog/the-effects-of-quantitative-easing/</link>
		<comments>http://farrmiller.com/blog/the-effects-of-quantitative-easing/#comments</comments>
		<pubDate>Thu, 29 Mar 2012 13:20:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1044</guid>
		<description><![CDATA[There has been a lot of talk in the media (including from me) about the effects, both positive and negative, of the Fed&#8217;s aggressive monetary easing programs. We are in the camp that believes Fed&#8217;s support was unquestionably needed during the throes of the crisis in order to avoid a complete financial collapse. However, the [...]]]></description>
		<wfw:commentRss>http://farrmiller.com/blog/the-effects-of-quantitative-easing/feed/</wfw:commentRss>
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		<title>Michael K. Farr - March 28, 2012</title>
		<link>http://farrmiller.com/blog/michael-k-farr-march-28-2012/</link>
		<comments>http://farrmiller.com/blog/michael-k-farr-march-28-2012/#comments</comments>
		<pubDate>Thu, 29 Mar 2012 00:01:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1019</guid>
		<description><![CDATA[
]]></description>
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		<title>Warm Days and Thunderstorms: Bond Prices Are Rumbling</title>
		<link>http://farrmiller.com/blog/warm-days-and-thunderstorms-bond-prices-are-rumbling/</link>
		<comments>http://farrmiller.com/blog/warm-days-and-thunderstorms-bond-prices-are-rumbling/#comments</comments>
		<pubDate>Tue, 20 Mar 2012 15:59:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1033</guid>
		<description><![CDATA[Spring arrived early for 2012.  In spite of the predictive powers of Punxsutawney Phil, the cherry trees along the tidal basin next to the National Mall are in full bloom - weeks ahead of their &#8220;normal&#8221; cycle.
Spring brings us out of the dullness of a barren winter and helps remind us that change is [...]]]></description>
		<wfw:commentRss>http://farrmiller.com/blog/warm-days-and-thunderstorms-bond-prices-are-rumbling/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Rally!  Do You Believe?</title>
		<link>http://farrmiller.com/blog/rally-do-you-believe/</link>
		<comments>http://farrmiller.com/blog/rally-do-you-believe/#comments</comments>
		<pubDate>Wed, 14 Mar 2012 15:57:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1029</guid>
		<description><![CDATA[Do you believe the economic recovery is real and sustainable?  Those are really two questions, and we suppose someone will want to parse our definition of &#8220;real.&#8221;  The S&#038;P 500 is up 10% over the past twelve months and 24.7% since September 30, 2011.  The recent rally is filling Wall Street with [...]]]></description>
		<wfw:commentRss>http://farrmiller.com/blog/rally-do-you-believe/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Healthy Pull-Back?</title>
		<link>http://farrmiller.com/blog/healthy-pull-back/</link>
		<comments>http://farrmiller.com/blog/healthy-pull-back/#comments</comments>
		<pubDate>Wed, 07 Mar 2012 15:56:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1023</guid>
		<description><![CDATA[The media were all abuzz following yesterday&#8217;s much-anticipated sell-off in stocks.  Prior to yesterday&#8217;s 1.5% drop, the S&#038;P 500 had gone 44 straight days without a sell-off of 1% or more - the longest such streak since May, 2007.  Over the same time, the VIX index, which provides a market estimate of future [...]]]></description>
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		<title>Michael K. Farr - March 1, 2012</title>
		<link>http://farrmiller.com/blog/michael-k-farr-march-1-2012/</link>
		<comments>http://farrmiller.com/blog/michael-k-farr-march-1-2012/#comments</comments>
		<pubDate>Thu, 01 Mar 2012 22:04:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://farrmiller.com/blog/?p=1001</guid>
		<description><![CDATA[
]]></description>
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