We at Mitchell Capital Management are rather agnostic when it comes to politicians and their insatiable craving for media attention. So with full warning and advance apologies we begin the discussion on markets and the U.S. economy in light of our politically charged times. During the third quarter, interest rates recovered slightly from their lows post-Brexit, oil prices stabilized in the $43 to $48 per barrel range, the equity markets bounced around their all-time highs, and U.S. economic growth continued to be anemic. One of the presidential candidates has accused the Federal Reserve of being politically influenced to maintain artificially low interest rates to keep markets pumped up and to benefit the current administration. The statement is dripping with political innuendo, but does it have a factual basis? Our thought is that the Fed has kept rates at zero for too long, but that the markets are not necessarily doomed once rates rise. Equity markets, in this zero rate environment and low growth economy, have been led by large capitalization, high dividend paying stocks in the utility and telecommunications sectors. They will struggle when interest rates begin to normalize higher and the economy improves. Market leadership will be replaced with companies that grow their earnings. We believe that companies in the technology, industrial and financial sectors are going to be the growth engines post elections. Our optimistic view of the equity markets is based on our forecast that the earnings recession of the last five quarters has run its course and is in the midst…