American Financial & Tax Strategies, Inc.
October 2010


Why I Love America,

part 6,381...

I recently saw an interview with the General Manager of Gallagher's, the legendary NY steakhouse. He has been with the restaurant for some time now. Do you know the first job he held there?

There is a similar story about the President of Air Operations for UPS, a top executive position with a seven figure salary. He too has been with his company for many years.....  
He started as a delivery driver in Boston.

Folks, only in America do these stories exist and are, in fact, ROUTINE.

Opportunity - class mobility - unlimited possibilities! That is the story of America. We may be facing some tough times right now but please never forget that the ideal and the promise of America endures.

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Look for next issue where I will discuss the Fiduciary Standard under which we operate versus the "Suitability Standard" of brokerage houses and insurance representatives.

Pop The Champagne!

OK, maybe not yet.

Yep, September was a fantastic month for stocks - actually the best September in seventy years - and my belief that vastly better times are ahead is unshaken.


Stocks were up about 10% and virtually all portfolios are showing nice gains for the year. 


It is impossible, except in retrospect, of course, to ever identify the turning point. This could be it, but that is unlikely. There are still many, many problems in the economy which will take a while to work out and these may or may not be reflected in stock and bond prices along the way. As I always say, 10% corrections are to be expected (welcomed, actually), and greater declines WILL happen.

The REAL lesson of this past September is, I believe, a reinforcement of what Warren Buffett has always said, that the best thing about stock market prognosticators is that they make fortune tellers look good. ALL the pundits were crying doom and gloom and urging you to hide gold coins in your mattress. As often as not, that turns out to be the best buying signal of all.

The simple reality is that no one can reliably predict the short term fluctuations in the market. The fundamental truths do not change. The Intelligent Decision is to establish a well thought out plan and stick to it.

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Many people ask why do you have the words, "Tax Strategies" in your name! Do you do tax returns? The answer is no. My role is to help you make Intelligent Decisions about your money and few things have as much impact on what you will earn and, more importantly, how much of it you will keep, as taxes. It is a vital aspect of sound, prudent planning. Sadly, it is often overlooked until it is too late.

I value my relationship with your accountant, attorney or other tax professional and enjoy working closely with them to help you achieve success.