Commentary for November 12, 2008
Wednesday, November 12th, 2008
Good Morning!
Stocks look to head lower again as investors are increasingly anxious that this economic malaise may last WELL into 2009. What have we done to try to make certain that our clients come out the other end of this bear market and are in a position to prosper at that point? We have continued to move up the food chain to high quality companies with strong balance sheets and/or have maintained a high level of cash. We have used some of this cash to lock in Certificates of Deposits and short-term U.S. Treasury Securities. We have also looked at alternatives to common stock and stock only equity funds such as corporate bond/bond funds and preferred stocks, some of which yield over seven percent.
We are aware that this is a time of extreme concern and share that concern. Should you wish to get together to discuss your account, please don’t hesitate to contact us.
Dennis Fagan
Chris Fagan
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