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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!
Now that Election Day is behind us, I'm hopeful that, as a nation of investors, we will set our sights on the future of our own personal economies. Meaning, we are mere weeks away from this year's end. Now is the time, if you haven't done so already, to do some year-end planning. For example, you might have some losses in a non IRA, 401(k), 403(b)... account that, if sold off, can lock in a loss for tax purposes. Perhaps you have had some gains elsewhere (Real estate, sale of a business, employee stock options ...) and a tax loss will help reduce your tax burden. Maybe you just want a tax loss to carry forward for the future. If you think this might be the case, I would suggest you speak with me and your tax professional to see if this form of planning would be appropriate for you. I look forward to speaking with you soon.
Warm regards,
John
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| Market Commentary
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Just 18 minutes after the polls closed on the west coast last Tuesday night, Republican John McCain stepped to a microphone in Phoenix, Arizona to concede the presidential election to Democrat Barack Obama. The first-term Illinois senator will take the oath of office on 1/20/09 and become the 44th President of the United States. President-Elect Obama won 53% of the national vote, the highest percentage by a winning candidate in 20 years (source: BTN Research).
Since the S&P 500 fell to a bear market closing low of 849 just 2 weeks ago today (10/27/08), the stock index has gained +9.9% (total return). The European Central Bank and the Bank of England (i.e., the Fed of England) both lowered interest rates last Thursday, just a week after the US Fed had also cut rates (source: Financial Times).
World leaders from 20 major countries will gather in Washington D.C. at the end of this week (Saturday November 15th) for a global summit focusing on the international financial crisis. Pundits and politicians continue to debate the causes of the meltdown while citizens simply want remedies and action. The International Monetary Fund, representing 185 nations globally, called last week for an increase in public spending and a reduction in taxes to stimulate economies worldwide (source: Financial Times). |
| Notable Numbers for the Week:
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1. THE SENATE - The 111th Congress (i.e., the session that begins in January 2009) has a 57/40 Democrat-to-Republican Senate split with 3 races yet to be decided (contests in Georgia, Alaska and Minnesota). The total of 57 includes 2 independent senators that caucus with the Democrats (source: Senate).
2. BIG BUCKS FOR THE FIFTH GRADER - The average cost for 1-year of college education at an in-state public college is $14,333 for the 2008-09 school-year (cost includes tuition, fees, room and board). The total 1-year cost has increased +6.5% per year over the last 30 years. If that same annual rate of inflation continues into the future, then a 5th grader today will ultimately pay $105,000 for his/her 4-years of education at an in-state public college during the years 2016-20 (source: College Board).
3. NO WORK FOR MANY - There were 7.7 million unemployed workers in the USA in December 2007. That total grew to 10.1 million idled workers in October 2008 (source: Department of Labor).
4. SELLING TO AMERICA - 40% of all imports shipped into the USA are processed through the docks of Los Angeles and Long Beach, CA (source: Financial Times). |
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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 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. does not offer tax or legal advice
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors
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