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Good Morning!
As we enter the first full week of the Obama Administration, we do so with some cautious optimism regarding equities, but realistically recognizing the fact that Rome was not built in one day. The recovery of the stock market will take some time, but with the fundamental belief that we are NOT entering a depression-like environment, we think the reward vs. the potential downside risk is substantial. We are hearing from listeners to our radio show as well as clients and non-clients alike that we wish to become more conservative. We think that assuming your asset allocation one, two and three years ago was correct and assuming that your objectives have not changed, that this would be a mistake. We believe that there is opportunity for investors in the stock market over the long-haul. We also think that corporate and municipal bonds hold relative allure.
To all those who read this morning posting, please feel free to contact us for clarification or to arrange a meeting.
Dennis Fagan
Chris Fagan