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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190
Elmsford, NY 10523
Ph... 914-524-7770
Fax. 914-524-7771
Weekly Market Review |
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Greetings!
With our presidential election only hours away, I am hopeful, that once this contentious battle is over, the investing public will view this as one less topic to be uncertain about and continue to focus on the future. What do I mean by that? Well, it seems to me that many of the people I have spoken to over the past few months feel a great part of the uncertainty in our market and our economy are due to the "unknown" factor of who will be our next president. Unfortunately, regardless of who wins, I expect to see a rise in taxes. To me the only questions yet to be answered are simply who gets hit and how hard? Regardless of who wins, we have to hope that our next president makes stabilizing our economy and strengthening our fiscal policies to be a top priority.
Please get out and vote!! Even if you feel your vote won't really matter or whatever. We owe this duty not only to ourselves but (my opinion) more importantly, we owe this duty to show our support of the brave men and women in our armed forces (both present and past) that fought (and some sadly died) to protect our right to vote and voice an opinion in the running of our country.
Warm regards,
John
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| Market Commentary
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October has come and gone for the S&P 500 but not before stumbling through its worst monthly stock performance in 21 years (down 16.9%). The dismal result is noteworthy considering that the S&P 500 was up +10.5% last week, its best Monday-Friday result since 1974. There are just 8 weeks remaining in calendar year 2008 (source: Barron's).
The Fed cut interest rates as expected to 1% last week, its 2nd rate reduction in just 3 weeks. The last 2 months have witnessed an unprecedented level of government activity, including the injection of capital into a series of failing corporations, an announced plan to purchase billions of bad mortgages from US banks, and the granting of massive amounts of unsecured loans to other firms (source: BTN Research).
The race for the White House began in February 2007 for both Democrat Barack Obama and Republican John McCain. It all ends tomorrow as one of the candidates will win and become POTUS # 44 (i.e., President of the United States). An estimated $5.3 billion of advertising was spent by both political parties on the race for the White House as well as congressional contests (source: Center for Responsive Politics). |
| Notable Numbers for the Week:
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Notable Numbers for the Week:
1. SENATE TO THE WHITE HOUSE - Only 2 Presidents in the history of our country have ever gone directly from the Senate to the White House. They were Warren Harding (President # 29) and John Kennedy (President # 35). Both John McCain and Barack Obama are US Senators and one of them will become US President # 44 (source: WhiteHouse.gov).
2. THE BUCKEYE INDICATOR - The candidate that has carried the state of Ohio has won the White House for the last 11 presidential elections. The last time that the winner of Ohio did not win the White House was Richard Nixon in 1960. Nixon beat John Kennedy in Ohio but Kennedy won the White House (source: PresidentElect.org).
3. SHORT LIST - 1,000 days before tomorrow's presidential election (i.e., 2/08/06), the most widely read newspaper in the USA had a story documenting the 20 most likely Republican and Democratic candidates for the White House in 2008. John McCain and Joe Biden were on that list but Barack Obama wasn't (source: USA Today).
4. WIDE OPEN RACE - The 2008 presidential race is the first time since 1952 that no current president or vice president is running for the White House (source: PresidentElect.org). |
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At J. Pink Associates, we do comprehensive financial planning and wealth management for families and small businesses by getting to know the unique and intimate details of your financial world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/ Dealer, Member FINRA/ SIPC and a Federally Registered Investment Advisor.
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors | |
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