As the stock market continues its rapid decline from the recent highs of mid April, spurred by fears over a Euro contagion and the potential effects on our nascent economic recovery, we thought it appropriate to reiterate our positive view of high quality US stocks. We hold this belief in spite of the current concern over the fate of the European Union and the ominous predictions of falling financial dominos from Greece to the countries linked under the unfortunate acronym of PIIGS (Portugal, Ireland, Italy, Greece, Spain) to the United Kingdom and then across the Atlantic to our shores. The current market decline has also been abetted by stubbornly high unemployment and a recent downtick in the leading economic indicators.

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