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 J. 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 - 11/08/2010 |
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| Greetings! |
Here is your tip for the week - There's an old adage that says "One man's trash is another man's treasure." As you are going through "stuff" that you no longer feel you need/ want, instead of throwing it out, perhaps selling it would bring you some money. There are several options you can consider, auction websites (like eBay), a garage sale, a flea market, or even a consignment store. Rather than selling your stuff, there's always the option of donating to a charity (Salvation Army, Big Brothers - Big Sisters ...). Most charities will even give you a receipt so you can enjoy a tax write-off for your donation. |
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Market Commentary | |
Even though the major events of last week were widely anticipated, the impact on the US stock market was remarkable. With still a few political races yet to be decided from last Tuesday's mid-term elections (11/02/10), Republicans may ultimately gain +65 House seats and +6 Senate seats from the Democrats, numbers that were expected based upon pre-vote polling. The following day, the Federal Reserve surprised no one when they announced an 8-month plan to buy $600 billion of Treasury bonds designed to push interest rates down. If Americans don't begin to spend more and invest more between now and 6/30/11, Ben Bernanke will have to develop yet another game plan to move our economy forward in the middle of 2011 (source: CNN, Federal Reserve).
As these events played out, the S&P 500 jumped on the news, gaining +3.6% (total return) for the week. With just 8 weeks remaining in 2010, the stock index moved into double-digit gain territory (up +11.8% YTD through last Friday 11/05/10) for the first time this year. 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).
Before jetting off to India to begin a 10-day visit of 4 countries, President Obama acknowledged on Thursday (11/04/10) that he would consider extending the 2003 Bush tax cuts for the top 2% of US taxpayers, a concession that just 1-day earlier he had rejected in his post-election press conference (source: White House). |
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Notable Numbers | |
1. HIGHER THAN LAST TIME - The estimated turnout in last Tuesday's (11/02/10) mid-term elections was 41.5% of our country's voting age population. 37.1% of the US voting-age population voted in the 2006 mid-term elections (source: Federal Election Commission, George Mason University).
2. SPLIT OF THE PIE - The wealthiest 20% of Americans own 84% of the total net worth in our country (source: Bloomberg BusinessWeek, Michael Norton and Dan Ariely).
3. UNDERFUNDED- The defined benefit pension plans for state and local employees in Illinois and Kansas are the poorest funded plans in the country. The Illinois plan has current assets equal to just 54% of its promised future liabilities, while Kansas is just 59% funded (source: The Pew Center on the States).
4. BIG BUCKS FOR A SEVENTH GRADER- The average cost for 1-year of college education at an in-state public college is $16,140 for the 2010-11 school-year (cost includes tuition, fees, room and board). The total 1-year cost has increased +6.3% per year over the last 30 years. If that same annual rate of inflation continues into the future, then a 7th grader today will ultimately pay $103,000 for his/her 4-years of education at an in-state public college during the years 2016-20 (source: College Board). |
Client Spotlight - November 2010
Chris Vernia, Yorktown Heights, NY
Double Image Sounds & Entertainment / Bounce the Party Place |
Q. What is Double Image Sounds & Entertainment?
A. A DJ/ Emcee entertainment company. We provide DJs, Emcee's, Bands and Musicians for parties/ events of any size.
Q. What makes you different from your competitors?
A. My strength, if you will, is that I have a knack for matching the DJ/ Entertainment with the event. Meaning each event has its' own feeling or personality, we take pride in recommending the entertainment that compliments your event rather than overtaking your event.
Q. What is Bounce the party place?
A. Bounce The Party Place is a brand new indoor event facility located at 1761 Front Street in Yorktown Heights, New York. Bounce caters to any party, event, corporate or social gathering. The room is equipped with all the necessary sound and video requirements you may need. It has a Miami nightclub feel that people really seem to like, especially with parties trending towards informal events these days.
Q. What other amenities does Bounce have to offer?
A. We can change the entire feel of the room. We can change the color (with our state of the art lighting systems), furniture (style and placement), sound (we also have a state of the art sound system). We even have a 20 foot projection screen. (see pictures below)
Q. Can you give me a few examples of the types of parties you have done?
A. Sure, Sweet 16s, Bar/ Bat Mitzvahs, Graduation, Anniversaries, children's parties, Corporate events to name a few. We can accommodate almost any request.
Q. What are your Phone #s?
A. Double Image Sounds & Entertainment (914) 773-1950
Bounce the Party Place (914) 302-2403
Q. Do you have a website/ email address?
A. Yes, www.DoubleImageOnline.com / www.BounceThePartyPlace.com / Chris@DoubleImageDJs.com
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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
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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.
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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.
NFP Securities, Inc. does not provide legal or tax advice.
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. |
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