Greetings!
First of all, congratulations to world travelers, Zelda and Pat, who appeared in this Sunday's Denver Post "Paper Trails" for their recent trip to Namibia.
Here are some excerpts from an amazing piece on what the 1% of the 1% do with their time:
Click here to read. (6)
In Courcheval, an exceptionally exclusive resort town in Switzerland, hotel rooms cost thousands of euros per night and they don't have security. The guests are so wealthy that they bring the security with them. For this crowd, there is no recession.
Just like me, you may have trouble believing it even after you read the story. In Courcheval, apparently, the point is to see and be seen! I might be tempted to buy a 6 Euros can of Sprite. . . and then, I might carry it around as a proof that I could afford it. I can't imagine any hotel room worth that kind of money. |
| Weekly Economic Update | |
OIL APPROACHES $110 PER BARREL
As NYMEX crude futures settled at $109.77 Friday, economists wondered how the U.S. consumer might cope if $5 gas became a reality. Spurred by supply concerns and heightened tensions over Iran's nuclear program, crude had its best week in three months: futures gained $6.17 (5.96%) across five trading days. Retail gas prices finished last week at $3.65 per gallon, a high unseen since last June. (1,2)
MORE HOMES MOVING ON THE MARKET
Existing home sales were up again in January - the National Association of Realtors reported a 4.3% monthly increase. Seasonally adjusted, sales have risen 8% since August. New home sales (a smaller portion of the residential real estate market) declined 0.9% in January, but largely as an effect of the Commerce Department revising December sales figures upward. Without those revisions, the indicator would have been strongly in the plus column. Last month, the new home inventory decreased to the lowest level since January 2006. (3)
CONSUMER CONFIDENCE UP SLIGHTLY
The final Thomson Reuters/University of Michigan consumer sentiment survey for February came in at 75.3 last week - a 12-month peak, and just a bit north of the 75.0 reading at the end of January. Economists polled by Briefing.com had projected a final February mark of 73.0.(3,4)
STOCKS & GOLD POST FURTHER GAINS
The Dow ended the week at 12,982.95, the NASDAQ at 2,963.78 and the S&P 500 at 1,365.74. That was the S&P's highest close since June 5, 2008. It also represented a 102% rise from its March 2009 bottom. On the week, the S&P gained 0.33%, the DJIA 0.26% and the NASDAQ 0.41%. Gold wrapped up the week at $1,776.40 on the COMEX after advancing 2.93% in five days. (2,5)
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| Market Summary |
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% Change |
Y-T-D |
1Yr Chg |
5-Year Avg | |
DJIA |
+6.26 |
+7.58 |
+0.53 | |
NASDAQ |
+13.77 |
+8.25 |
+3.58 | |
S&P 500 |
+8.60 |
+4.57 |
-1.18 |
(Source: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 2/24/12). Past performance is no guarantee of future results. Indices are unmanaged, and investors cannot invest in them directly. |
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Create a beautiful week!
Karl Frank, MBA, MSF
Certified Financial Planner (R)
A & I Financial Services LLC
303.690.5070
Citations:
(1) - blogs.wsj.com/marketbeat/2012/02/24/data-points-energy-metals-549/ [2/24/12]
(2) - money.msn.com/market-news/post.aspx?post=f460d01b-ed4b-4bea-a1f8-e493ba886494 [2/24/12]
(3) - www.ft.com/intl/cms/s/0/89e852da-5eec-11e1-a087-00144feabdc0.html#axzz1nRYUcgZK1 [2/24/12]
(4) - briefing.com/Investor/Calendars/Economic/Releases/
mich.htm [2/24/12]
(5) - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [2/24/12]
(6) - http://www.marketwatch.com/story/courchevel-1850-thrives-in-a-bling-bubble-2012-02-22
Securities offered through Geneos Wealth Management, Inc., member FINRA/SIPC. Investment advisory services offered through A & I Financial Services LLC, registered investment advisor. |
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| Words for Thought |
"Love is the master key that opens the gates of happiness."
Oliver Wendell Holmes |
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Karl Frank In Investor Advisor Magazine |
 | | Investor Advisor - November 2011 |
Investor Advisor Magazine's November 2011 edition features Karl Frank. In the article "Never Satisfied," John Sullivan writes: Passion born of tragedy drives Karl Frank to do all he can to help business owners ensure a legacy for loved ones and heirs. Industrial age publisher and philanthropist Frederick Bonfils said there is no hope for the satisfied man. If that's the case, Karl Frank is full of hope.
"I'm never satisfied," Frank says matter-of-factly when asked about his advisory firm
.....Read More. |
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Karl Frank was interviewed by 9News on January 9, 2012 regarding "Key Questions to ask when picking a financial advisor". | |
Click Here to View Video
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Riddle of the Week
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Name the three English-language three-letter words that begin and end with the letter E.
Last week's riddle:
What item binds two people yet touches only one?
Last week's answer:
A wedding ring.
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