4th Quarter 2008

December 5, 2008 

Dear Valued Clients,                                      

We would first like to wish you and your family the warmest of wishes for a happy holiday season and a healthy and prosperous New Year.

In looking back at the year from a financial perspective, we can say that it was one of the hardest years in the business we have every experienced.  No one at the beginning of 2008 thought that the financial system of the United States was in such a dire situation.

Years of overleveraging and deregulation of markets allowed bubbles in the housing market and Wall Street to occur. These excesses have now pushed us into a deep recession and a nasty bear market.

Craig and myself empathize with each of your individual situations. Sacrifices in each of our daily lives will have to be made. We are trying our best to help you during this difficult time.

Our business has not gone unscathed either. Being business owners we have to make some decisions that are not easy to make. Starting in 2009 some of the staff that you have known will no longer be with us. We are trying to navigate this downturn the same as you are.

Looking forward into 2009 we hope for a better year. Keeping a long term perspective is essential for investing in markets. Recessions and bear markets are a normal occurrence. They occur approximately every 6 to 8 years, and differ in their severity.

If you are still invested, please do not hesitate to call us to go over your portfolio. It is important to match your goals with your portfolio. If you moved to CD’s or another cash position, remember that markets move quickly and you don’t want to miss an important upturn.

Again, happy and healthy holiday season.

Warmest Regards,

Craig and Jay Rosenblatt

PS Your continued support and referrals are the lifeblood of our business.