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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!
Thanksgiving for me is a time for reflection, a time to take stock of all of the wonderful people in my life and to truly feel grateful that I have such an abundance of blessings. In addition to having a fantastic family and network of friends, I'm especially thankful to have you as one of those friends and as a client. As I continue to strive for my dreams, I try never to lose sight of the fact my clients the real reason I get closer every day. So, I want to take this week's email to thank you for being a very important part of my life and for allowing me to serve such an important role in the lives of you and your family. I am truly blessed. This is a blessing I never take for granted.
As I reflect, I will no doubt also uncover things that I could have done better and/or more efficiently. In my quest to continue to grow as a person, friend and advisor, I ask that if you can take a moment to tell me how to better serve your needs in the future, I will make every effort to do just that.
Thank you for your continued business, support and most of all your friendship.
I wish you a Happy Thanksgiving, a wonderful Holiday Season and a prosperous 2009.
Fondly,
John
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| Market Commentary
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The chief executives of the nation's largest automakers forgot to fill out their $25 billion loan application before they headed to Washington D.C. last week. They will have one last chance to plead their case in early December before a lame-duck Congress that may decide the fate of our domestic auto industry (source: BTN Research).
Mortgage giants Fannie Mae and Freddie Mac, themselves saved from bankruptcy by the US government in early September, provided an early holiday gift to thousands of Americans. The 2 companies will cease foreclosure sales beginning this Wednesday (11/26/08) through 1/09/09 on 16,000 households, checking instead to see whether the struggling homeowners could qualify for new loans under the mortgage modification program announced last Thursday (source: AP).
Investors are hoping for a continuation of the good feelings that enveloped Wall Street last Friday afternoon following the news leak that indicated Tim Geithner will succeed Hank Paulson as Treasury Secretary. Geithner is a current member of the Fed's Board of Governors. With just 5 ½ weeks to go in calendar year 2008, the S&P 500 is down 44.4% (total return) YTD (source: BTN Research). |
| Notable Numbers for the Week:
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1. BIG NUMBER - Through the first 9 months of 2008, the US imported $277 billion of crude oil, equal to more than $1 billion a day of oil imports (source: Commerce Department).
2. SUPPLY AND DEMAND - One week ago the president of OPEC said that the cartel will cut its daily oil production in order to raise the price of oil to $70-$90 a barrel. The price of oil closed last Friday at $49.93 a barrel. The last time the price of oil was $90 a barrel (10/07/08), the price of gasoline was $3.48 a gallon (source: Financial Times, BTN Research).
3. ELECTIONS AND RECESSIONS - The last time the US was in a recession during a presidential election year was 1980. The country endured a 6-month recession that ended in July 1980. Republican Ronald Reagan defeated Democratic incumbent Jimmy Carter in the November 1980 election (source: NBER).
4. COMPUTER KNOW-HOW - When Barack Obama becomes the 44th President of the United States on Tuesday 1/20/09 (8 weeks from tomorrow), he will be the 1st president in our nation's history to keep a laptop computer on his desk in the Oval Office (source: New York 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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