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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01/12/09

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Greetings!
 
 
As we settle back in to our regular schedules and routines, I want to remind you that I'm here to answer any questions you may have.
 
I bumped into a client while out and about this weekend who said "I'm so glad to see you; I've had a few questions for you about my financial plan and my investments". When I asked "why didn't you call the office to ask me these questions"?  I was told "with all that's going on in the market these days, you must be way too busy with important stuff to answer my silly questions".
 
Let me take a moment of your time to address this "silly" issue.
  • 1st.  I'm never too busy to speak with you. Even if I can't take your call the moment you call in, please leave a message and I will get back to you as soon as I can.
  • 2nd.  There are NO silly questions!!! Any question on your mind is extremely important to both me and my team. When you signed on as a J. Pink Associates client, I made a commitment to you on behalf of myself and my team that we would all do everything in our power to make you a priority all the time. Please feel free to call us and share your questions, thoughts and feelings anytime.
 

Fondly,

John 
 
Market Commentary
 
Although the number had been anticipated all week, the report last Friday that 524,000 Americans had lost their jobs in December was nonetheless startling.  More people lost employment last year (2.6 million) than live in Houston (2.2 million), the 4th largest city in the USA.  In addition to 11.1 million people who are out of work today (7.2% of the civilian labor force) another 8 million individuals (5.2% of the work force) are working part-time either because they can't find full-time work or because their hours were cut (source: DOL, WSJ).   
 
The irony for Americans is that after years of too much borrowing and too much spending, excesses at the core of our financial crisis, the solution being promoted by Washington is more borrowing and more spending.  President-elect Obama said late last week that our country's recession could "linger for years" unless the newly-seated Congress acts quickly to inject unparalleled sums into the US economy (source: AP).
 
Not everyone had a tough time economically last week.  With Florida's win over Oklahoma in the title game for college football, head coach Urban Meyer, who already makes more than $3 million per year, earned $200,000 in bonus money from his university (source: USA Today).
Notable Numbers for the Week:
 
1.     SAY WHAT?! - In a 5/17/07 speech in Chicago, Fed Chairman Ben Bernanke said that Federal Reserve officials "believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system" (source: Federal Reserve).  
 
2.     WHERE'S OBAMA? - A survey of 112 US money managers released on 11/05/07 predicted the outcome of the November 2008 presidential election.  61% of the managers believed Hillary Clinton would win the White House.  Taking 2nd place in the poll was Rudy Giuliani with 15% of the vote (source: Barron's). 
 
3.     GOOD CALL - A 6/16/08 magazine article titled "Why It's Worse than You Think" written by Daniel Gross stated that "for months, economic Pollyannas have looked beyond the dismal headlines and promised a quick recovery in the second half (of 2008).  They're dead wrong" (source: Newsweek). 
 
4.     SCANDAL - An article questioning Bernie Madoff's investment strategy (titled "Don't Ask, Don't Tell") appeared in print on 5/07/01, 7 ½ years before his Ponzi scheme was discovered.  When asked about the investment policy that he utilized, Madoff replied "it's a proprietary strategy and I can't go into it in great detail" (source: Barron's).
In This Issue
Market Commentary
Notable Numbers for the Week
Quick Links
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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