2006 midyear investment review the board of pensions balanced portfolio 2005 what me worry time for a reality check financial markets overview while many investors were able to maintain smiling face and attitude in economic geopolitical events first half managed wipe grins off faces all but most sanguine long term continued instability iraq middle east civil wars sudan congo nuclear rumblings from iran north korea just few trouble spots on globe oil prices exceeded 70 barrel us consumers paid more than 3 gallon gas ben bernanke new chairman federal reserve measured rate increases started under alan greenspan after 17 consecutive fed funds 1 0 june 2004 reached 5 25 despite soaring energy commodity housing market beginning show signs weakness unemployment 4 6 was lowest reading five years consumer confidence remained
