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
 
for the week of - 04/19/2010
In This Issue
Market Commentary
Notable Numbers
Client Spotlight
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Greetings!
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I'm very pleased to see that the client spotlight is proving to be a popular addition to our WMR. We hope to keep it going for a long time to come. If you are interested in being the Client in the "spotlight", please let us know.
 
I hope you're enjoying the spring.
 
Have a great week.

Market Commentary

 
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If the White House needed any momentum to get the Senate to move on financial regulatory reform, then the civil suit filed on Friday (4/16/10) by the SEC against Goldman Sachs may provide that impetus.  The government has accused the prominent Wall Street firm of creating a security backed by subprime mortgages, utilizing the services of a hedge fund manager in selecting the mortgages, and then failing to disclose the role that the hedge fund played to the investors of the security.  The problem is that the hedge fund, after picking the mortgages, then proceeded to take bets (by buying credit default swaps) on their belief that the mortgages would fall in value.  From 2007-08, investors of this security lost over $1 billion while the hedge fund made $1 billion in profits when the mortgages fell to almost zero in value (source: SEC). 
 
33 US states reported job gains in the month of March. The lowest unemployment rate nationwide belongs to North Dakota at just 4.0% while Michigan has the highest at 14.1%. The national unemployment rate is 9.7% (source: Department of Labor).   
 
Before stumbling on Friday as a result of the charges levied against Goldman Sachs, the S&P 500 had closed at a 19-month high on Thursday (4/15/10). The stock index is up +7.5% YTD on a total return basis (source: BTN Research).

Notable Numbers

 
1.     REALLY BAD, THEN REALLY GOOD - The S&P 500 lost 3.4% per year (total return) for the 10 years ending 2/28/09, the 4th worst 10-year period ever for the stock index.  Since 2/28/09, the S&P 500 has gained +66.2% through last Friday 4/16/10.  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.     IN THE RED AGAIN -The US government had a $65 billion deficit in March 2010, extending its streak of consecutive monthly deficits to 18, an all-time record. Before running a deficit in April 2009, the US government had experienced a surplus (i.e., tax receipts in excess of outlays) in every April for the 25 consecutive years from 1984 to 2008 (source: Treasury Department).  
 
3.     JUNK BOND KING -20 years ago this upcoming Saturday (4/24/90), Michael Milken pleaded guilty to 6 felony charges of securities fraud and conspiracy. Milken, who was 43 years old at the time of his plea, agreed to pay $600 million in fines and penalties. Milken had initially been accused of wrongdoing by the SEC on 9/07/88. He ultimately spent just 22 months in prison after facing up to 28 years behind bars (source: Mercury News Wire Services).   
 
4.     ANOTHER BABY BOOM -The total number of births in America in 2007 was 4.3 million, the highest number of births ever in our country for a single calendar year. The total surpassed the previous high set in 1957 (source: National Vital Statistics Report).

Client  Spotlight - April 2010

Joe Ruggiero, Dom & Vinnie's Restaurant
 
Butch GilbertOur client in the "Spotlight" for April is Joe Ruggiero. Joe is the Co-Owner of Dom & Vinnie's Restaurant in Yonkers, NY Joe & his wife, Ann, live in Westchester and have three beautiful children.
Q. What type of restaurant is Dom & Vinnie's?
A. An authentic family style Italian pizzeria/restaurant.
 
Q. Where is the restaurant located?
A. 351 Saw Mill River Rd, Yonkers, NY 10701
 
Q. What hours are you open?
A. We're open 7 days a week for lunch and dinner.
 
Q. What is the Phone #?
A. (914) 476-6666
 
Q. Do you have a Website/ Email?
A. Yes, www.DomNVinnie.com / DomNVinnie@yahoo.com 
Q. Has the restaurant won any awards?
A. Yes, several including Westchester Magazines "Voters Choice Award" for best Pizza.
 
Q. Are reservations needed/ suggested?
A. Not usually, if there is a group of 6 or more it would be a good idea. We always do our best to get our customers seated right away.
 
Q. Can you accommodate Catering/ Parties/ Events?
A. Absolutely, we have a second dining room that accommodates up to 40 people or we can supply catering at offsite events.
 
Q. What are a few of your most popular dishes?
A. There are several.
·         Rigatoni Napolitano (W/ moms small meatballs and sauce)
·         Penne Montemara (Shrimp & Arugula in a pink sauce)
·         Chicken Scarparello
·         Veal Chop W/ Cherry peppers  & Potatoes
·         Mom's Homemade Cheesecake
·         Daily Specials are listed on our website along with our regular menus.
 
Q. Sounds like you have a wide variety to choose from?
A. Oh yes, and if there's something a customer wants and it's not on our menu, we'll happily prepare it for them.
 
Q. How did the restaurant get started?
A. My father Dom & my uncle Vinnie opened a pizzeria/restaurant in Ardsley in 1971. Ardsley Pizzeria served pizza in the front and had a small restaurant in the back. My Mom, Maria and Aunt, Ida, ran the kitchen in the back while Dom & Vinnie made pizza in the front. They sold in 1985 and set up shop in the current location in Yonkers.  I took over my father's share of the restaurant around 1996 after finishing Law School at Fordham University. I was only supposed to be here on a temporary basis but I absolutely fell in love with the customers and the business. Although my partner (and cousin) Mike and I run the business now, we keep our parents involved. They're great to turn to for "old fashioned guidance and advice". They also come in every morning and help. My father comes in and bakes all of the breads while my mother makes the pastries every morning.
 
Q. What changes are you most proud of?
A. Keeping the quality and flavor of our foods while modernizing the behind the scenes operations, such as adding a website and delivery on the weekends.
Joe has made this gracious offer to you or any one you refer to his restaurant.
Please go see him. Enjoy!
 
 Enjoy a complementary dessert with the purchase of any dinner entree. (dine-in only)
 
Save 20% off of Dine-in Catering with 15 or more guests.
 
Save 15% off of Take-out Catering purchases of $200.00 or more.  
 
 print this coupon and present to your server         JP Bio Pic  J. Pink Associates.
Offer Expires: 5/31/2010                     Can not combined with any other offers                  
 
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.