JP Bio PicJ. PINK ASSOCIATES, Inc.,

FINANCIAL ADVISORS
 
 
555 Taxter Rd. Suite 190                                      Ph- (914)524-7770
Elmsford, NY  10523                                          Fax- (914)524-7771
 
 
500 Summit Lake Dr. Suite 120
Valhalla, NY  10595
Weekly Market Review
In This Issue
Market Commentary
Notable Numbers
Client Spotlight
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Greetings!
JP Bio PicSpring is only days away but it sure feels like it's still pretty far off. I have signs of spring in my garden; bulbs are starting to push through the soil. This past weekend has left me feeling like Spring will never get here. I guess when you have a weekend like the greater NY area had this past weekend; it can leave you in a state of disbelief. Regardless of having no electricity since Saturday evening, I can see brighter days ahead.
I'm guessing this is also how it feels to most investors when the market just keeps raining on them and their goals. But, rest assured, Spring always comes. Obviously, when talking about investments a recovery is never as easy to time as an upcoming season.  We do know, however, that the recovery is on its way. In many cases we are often well in to a recovery before investors will acknowledge it.
If you, or anyone you know, would like to chat about what's going on in our economy please feel to call our office at your convenience.

Market Commentary

 
JP Bio Pic
At $54.2 trillion, the aggregate net worth of Americans was up +5.4% last year.  At $13.5 trillion, the aggregate household debt of Americans was down 1.7% last year.  That was the first annual drop in consumer debt since tracking on this data began in 1945.  The S&P 500 closed at a calendar year 2010 high on Thursday (3/11/10), backed off slightly the next day but is still up +3.6% YTD on a total return basis (source: BTN Research). 
 
The government program designed to assist homeowners struggling with their monthly mortgage payments is gaining momentum.  After being announced on 2/18/09, the "Making Home Affordable Program" had permanently reduced only 66,000 mortgages by 12/31/09 out of 3.4 million homeowners that are at least 2 months late on their payments.  But another 102,000 mortgages have been permanently modified already in 2010.  The program, originally scheduled to end on 6/10/10 has now been extended to 6/30/11 (source: Making Home Affordable Program).        
 
Americans may feel they are back in a high school civics class this week as they watch Congress in action.   The Democratic leadership in the House believe they will approve the Senate version of health care reform (i.e., the Senate bill that was passed the day before Christmas), setting the stage for President Obama's signature.  The real tension is with the companion "reconciliation" bill that would make some fixes to the "just-passed" Senate bill and will require separate passage by both the House and the Senate.  The fear of some House Democrats is that the Senate won't act on the companion bill, leaving the Senate version of health care reform as the new law of the land (source: House).

Notable Numbers

1.     LOOKING AHEAD - The average gain for the S&P 500 in the 2nd year following a bear market closing low (i.e., the 13th month through the 24th month) has been +12.2% in the last 50 years.  The best 2nd year return was +25.3% and the worst 2nd year return was +2.0%.  The return calculations are based upon the change of the raw index and do not include the impact of reinvested dividends.  The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).    
 
2.     THE WEALTHIEST - The top 10% of US households (when ranked by total net worth) have a median net worth of $1.9 million (source: Federal Reserve Survey of Consumer Finance).  
 
3.     IN THE RED AGAIN - The US government had a $221 billion deficit in February 2010, extending its streak of consecutive monthly deficits to 17, an all-time record (source: Treasury Department).  
 
4.     GOVERNMENT IN ACTION - The average processing time for an individual awaiting a decision from Social Security with regard to a disability claim is 442 days (source: Social Security).

Client  Spotlight - Butch Gilbert, Effective Electric

 
Butch GilbertOur first client in the "Spotlight" is Butch Gilbert.
 
Butch and his wife, Danielle live in Cortlandt Manor, NY with their two children. Butch owns Effective Electric LLC. Effective Electric is a full service electrical company. 
 
Q. What type of customers do you serve?
A. We are able to handle all phases of residential and light commercial electrical work.
 
Q. Is any job too small, or for that matter, too big?
A. No, we are full service electrical contractor. We will provide services from replacing a broken light fixture or switch, to installing new electrical wiring for a renovation or addition.
 
Q. What geographical area do you serve?
A. All of Westchester and Putnam counties. We also serve the neighboring sections in CT.
 
Q. Do you have a website?
A. Yes, www.EffectiveElectric.net 

Q. How can people contact you if they need you?
A. They can call me at (914) 737-2651 or they can email me at [email protected] 

Q. How do you typically get new Customers?
A. The majority of our new business comes in as referrals from our existing customers.
 
Q. What sets you apart from your competition?
A. We work directly with the customer and keep them informed/ involved from the estimate to
    completion, while always keeping their budget in mind.
 
Q. Are you licensed?
A. We are fully licensed and insured in Westchester and Putnam counties as well as in CT.
 
Q. Do you have a slogan?
A. "We make sure you're never in the dark."
 
Q. If a customer needs work that requires a permit; can you help in getting that permit?
A. Yes, an electrician is required to obtain the proper permits for any job they do where a permit    is necessary. We often have to show that our insurances and licenses are current and in good         standing in order to obtain that permit.
 
Q. Do you charge for job estimates? If so, what is that fee?
A. No.
 
Q. Is there a way to be sure an electrician is licensed and insured??
A. Yes, you can check them out at (www.westchestergov.com) then go to consumer protection, then to the specific contractor.  You should ALWAYS be sure that the electrician you hire is licensed and insured.
 
As always, if there's anything we can help you with, please feel free to call the office anytime.
 
I hope you have a great week.
 
 
Sincerely,
 
John

John W. Pink, Sr.
J. Pink Associates, Inc.,
Financial Advisors
 
 
At J. Pink Associates, we do comprehansive 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 as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guaranteew 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 notpurport 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.  Part performance does not guarantee future results.  The S&P 500 is an unmanaged index of 600 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 Registerd 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.