|
|
| 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 |
|
| Greetings!
This will be my last Weekly Market Review for the year. I want to thank you personally, for being an important part of my year. I am honored to have been a part of your year too. I wish you all of the wonder and prosperity life has to offer through this Holiday season and all through the upcoming year.
Again, thank you.
John |
| Market Commentary
|
The Fed went to where it has never gone before by dropping its target short-term interest rate to no more than ¼ of 1% last Tuesday. By making the cost of money almost zero for interbank lending, the nation's central bank has now pushed its stated monetary policy to the limit. Its next move may include the buying of mortgage-backed securities and/or Treasury bonds in an effort to push prices up and rates down (source: Federal Reserve).
The White House may have saved our domestic auto industry in the short-run, but its $17.4 billion bailout last Friday included a requirement of a broad restructuring plan by 3/31/09 or just 99 days from today. It will now be up to the new Obama administration to confront the politically sensitive issues of union concessions and retiree health care for the auto companies. OPEC struck back in the face of plummeting oil prices (Friday's close was $33.87, down $62 a barrel YTD), announcing an output cut of 2.2 million barrels a day that will be implemented in January 2009 (source: AP).
The fallout from the Bernard Madoff Ponzi scheme continues as more unwitting investors make their identities known. Initial reports suggest that the duped individuals believed their collective investment balances totaled $50 billion, when in fact there is no more than $0.3 billion in funds remaining (source: Wall Street Journal). |
| Notable Numbers for the Week: |
1. DON'T WASTE MY TIME - 54% of American investors do not read financial literature (e.g., newspaper or magazine articles) because they believe the content is "too hard to understand" (source: AARP, April 2008).
2. LITTLE CASH, A LOT OF DEBT - 46% of the mortgages taken out by US home buyers in calendar year 2006 utilized greater than 95% financing, i.e., the home buyer put less than 5% down (source: Money, May 2008).
3. WHAT IS YOUR NUMBER? - The average amount of money that more than 2,000 adults anticipated they will need in order to retire comfortably was $1.13 million (source: USA Today, Kelton Research, June 2008).
4. DAY LATE, DOLLAR SHORT - Americans are projected to be assessed $52 million a day in late fees charged by credit card companies during calendar year 2008 (source: R.K. Hammer, USA Today, August 2008). |
|
|
|
|
| Quick Links
Use this link to check our website for information updates. |
|
|
|
, We need your help!!!
Your suggestions are very important. |
| Please help us improve our communications to you. If you have any thoughts or suggestions on how we can improve our weekly emails, or anything else for that matter, please let us know. Communication is critical and any ideas you may have are really appreciated. Is there something we should add, change or remove altogether?
The more guidance you give us the better we can serve your needs.
Thanks. |
| Forward this email
Can you think of someone? |
| Who can you think of that might benefit by reading this email?
Please forward this to anyone or better yet everyone you can think of that might benefit by reading it.
Family members, Co-Workers, Friends, Neighbors, perhaps your Accountant or Lawyer? Heck, even your in-laws might like to read this.
So please, click on the "Forward email" link below and share this edition of "John Pinks' Weekly Market Review" | |
|
|
|
*********************************************************************************
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.
********************************************************************************* |
|
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
| |
|
