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Happy Holidays! Greetings!
We hope that everyone has a safe and enjoyable holiday season, and we look forward to working with you in 2009!
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The Home Stretch 
As the year comes to a close, it appears as though we will receive the "Santa Claus" rally that frequently visits the market in December. I view this as extremely positive.
The worst of the news (hopefully) is already on the table. In early December, several very poor figures from various economic reports failed to drag the market down. In fact, those days wound up being very good days for the markets.
The stock markets are typically leading indicators of the economy. If the economy is poised to stabilize and grow within the next six months or so, then the market will typically grow as well. Even if the news is bad, the market usually has that factored in to current prices. Of course the opposite is frequently true of the market before economic slow downs.
Other news for optimism include a significant cash balance remaining from the $750bil "TARP" as well as the $14bil injection into the US automakers. In just under a month, Barack Obama will be inaugurated as the 44th President of the United States. While he will inherit a struggling economy, he will have the financial resources and backing of the Democrats in Congress to move his agenda forward. Some may disagree with his policies, but a "lame duck" President and Congress have been reluctant to make decisions that will tie the hands of President Obama during his first year(s) in office.
Unfortunately, no one can predict the future. As a result, no one is assured of financial/market gains in the coming year. That said, I believe that those who have stuck with their investment plan and especially those who made additional investments over the past few months will likely see their patience pay off in 2009.
Make sure to review your investment mix with your advisor and to discuss the implication of selling any taxable investments with your tax advisor prior to making any changes.
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Office News 
Our office will be closed on December 25th and 26th as well as January 1st in observance of Christmas and New Year's. Additionally, we will close early on December 24th and 31st.
We were invited to take place in the inaugural lamp post decorating in the park across from our office. Bucking the trend, our theme this year was "Festivus for the Rest of Us" based on the holiday episode from Seinfeld. If you happen to be in the neighborhood, make sure to visit the park. They've done some wonderful renovations to it this year and the lamp post decorations are all wonderful.
Make sure to visit our website to see our updates:
PartnershipWealthManagement.com
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On the Home Front 
We celebrated Roxy's first birthday last month. Her gifts included a trip to daycare where they held a "surprise" party for her. At home, both Roxy and Fenway had some special treats to mark the occasion. While Roxy didn't seem thrilled with the party hat, she was a good sport about it.
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I hope you enjoyed this month's newsletter. If you know of someone else who may find this newsletter of value or who you believe may need our help, feel free to forward our newsletter to them by using the "forward email" link on the bottom left of this page.
Best Wishes,
Woody Derricks
President
Phone: 410-732-2633
Toll Free: 877-807-2633
Fax: 410-732-2634
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Available by Appointment in Alexandria & DC.
Woody Derricks is also registered to discuss and transact securities business in:
AK, CA, CT, DC, DE, FL, MD, NJ, NY, PA, RI, VA, and VT. |
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