Market Update 3rd Quarter 2009
September 30, 2009
We have received numerous calls regarding recent trade confirmations. My goal with this commentary is to inform our clients of the reasons why these specific transactions took place.
This commentary is specific to those clients that are on our “LifeGuide” fiduciary platform, which enables us to make adjustments to your portfolio on a discretionary basis.
2008 was a very difficult time period for both the stock and the bond markets. As the year closed, our clients were in a cash position and remained there until the outlook improved. By February 2009, we felt that the stock and bond markets were sufficiently battered and that both presented attractive investment opportunities at that time. On February 18, 2009, we invested back into each client’s respective portfolio.
We have had a significant run up on our stock based portfolios. As of recently, we believe the market is headed for a pullback and that it is prudent to lock in the gains we have made. On September 10, 2009, we sold the stock investment in our client’s accounts.
The year-to-date return on the S&P 500 was 12.06% through September 10, 2009.
The S & P is the benchmark used in constructing your portfolio. Please see your statement for the particulars of your individual account. If you have any questions regarding your account, please contact our office.
We are watching the markets closely and will repurchase your stock investments when we feel they are attractively priced again.
And now for the disclosures:
The opinions and forecasts expressed are those of Rick Alter, and may not actually come to pass. This information is subject to change at any time, based on market and other conditions and should not be construed as a recommendation of any specific security or investment plan. Past performance does not guarantee future results.
The S&P 500 Stock index is a widely recognized, unmanaged index of common stocks. Past performance is no guarantee of future results. Average annual returns assume the reinvestment of all distributions and/or dividends. Indices are unmanaged, statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. [ Back to Article List ]
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