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Good Morning!
Stocks AND BONDS (the credit market) are under severe pressure this morning as politics and the upcoming Presidential Election appears to have trumped the general good of Americans and the American economy. Suffice it to say that we have reviewed client accounts several times each week making certain that investors are taking appropriate risk for their long-term objectives. Despite the fact that the picture is pretty ugly right now, we do believe that ultimately, and perhaps not too late, the politicians will make the right decision.
Please be certain that we have also reviewed the fixed income side of our client accounts for potential issues and, at this time, are comfortable with our holdings. Given these uncertain times, please be advised that we will make changes, when appropriate, without regard to holdings periods, etc…
However, for now, we do believe that we are appropriately allocated for their difficult market environment.
Dennis Fagan
Chris Fagan