The first quarter of 2013 may have ended last Thursday, but it is definitely one to remember.
Following a strong showing in the fourth quarter of 2012 and facing financial headwinds coming from Europe, no one would have been surprised has the market decided to take a breather.
Instead, the markets roared higher, taking Michigan stocks with it. The S&P500 index was up 10% during the first quarter of 2013, along with 26 out of the 37 Michigan stocks I track. 34 of those 37 stocks had a positive return!
Even the stocks that lost ground did so in modest fashion, with only 1 falling more than 2% (GM).
This quarter’s big winners were La-Z-Boy (LZB), Herman Miller (MLHR), Ramco-Gershenson Properties Trust (RPT), Syntel (SYNT), and Rofin-Sinar Technologies (RSTI) with gains of 33.4%, 28.9%, 26.2%, 25.9%, and 25.0%, respectively.
RPT is a REIT and has benefiting greatly from the housing recovery. The trust has steadily increased in price since April of 2012.
This commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities.
Disclosure: At the time of publication, Joel Wenger held no positions in any of the stocks mentioned within this article.
Mr. Wenger, who has successfully invested and traded in the US markets for over a decade, created a website to help you learn how to invest safely. Access this free resource today by visiting Invest-Safely.com.