Independence Day
The Stock Market will be closed on Friday, July 3, 2009 for the Independence Day. All transactions entered after 3:00 on Thursday, July 2, 2009, will be processed on Monday, July 6, 2009.
Memo to Investors
Released: 3-9-09
In the stock market today, fear, depression and high anxiety are the dominant emotions. History tells us that those periods of extreme pessimism almost always precede an up-leg in the market. Long-time market observers look for what is known as “capitulation” – panic selling or an attitude of “don’t ever sell me another stock.” Buying normally follows intense selling. There is anecdotal evidence that there has been panic selling over the past two months.
Is this a normal time – and will patterns from the past repeat? At its heart, we believe this is a classic bear market. It is being driven by uncertainty about the banks, unemployment, lack of credit, housing. Our government (and governments around the world) has injected significant amounts of liquidity. That will have a positive effect, at some point.
Bull markets often begin when a recession is at its worst – when numerous indicators are falling or are in negative territory. When the selling is exhausted, a new bull market will begin -- this time as well. And the first phase of a bull market is often the strongest – one investors don’t want to miss.
We know this is very difficult and discouraging for you. It is for us, as well. However, we believe the market will reward those with patience. Don’t hesitate to call if we can answer any questions.
Asset Services Company
Independent Investment Consultants
We are investment architects focusing on prudent asset allocation strategies as a means for achieving your financial goals. Asset Services Company consults with corporations, institution pension plans, and endowments to identify a plan of growth for their asset base. We research potential investments and money managers to growth in varying economic climates. We are independent, driven to satisfy client's needs, responsive, and experts in our work.