Academic journal article The Catholic Historical Review

Report of the Executive Secretary and Treasurer, October 2010 the American Catholic Historical Association

Academic journal article The Catholic Historical Review

Report of the Executive Secretary and Treasurer, October 2010 the American Catholic Historical Association

Article excerpt

As treasurer of the American Catholic Historical Association (ACHA), this is my first annual report. I gave a short and less detailed report on our finances at the general meeting of the ACHA when we met in San Diego on January 7-10,2010.

The worst part of the collapse of the market during this recession happened between late September 2008 and early March 2009- On March 5, 2009, the Dow fell to a new low of 6,594.44. On October 9, 2007, the Dow had closed at 14,164.43. Between its peak and its bottom, the Dow had dropped more than 50 percent in just seventeen months.This has been the longest and most severe postwar recession we have experienced. The market value of our Deutsche Bank, Alex Brown investments in 2009 increased from a low of $672,932 in January 2009 to $787,404.00 in December 2009This represents a 26.7 percent return to the portfolio. Our DB investment councilor, David Canham, has advised us to stay the course. On the other hand, our mutual fund accounts at Vanguard and T. …

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