Darn That Unlucky 13th Month

…Actually, the overdue correction was a relief and allows us to go forward with less chance of a major break… something like a minor earthquake relieves the pressure and lessens the chance of a more disastrous rumble.

Economic recovery (growth) continues, albeit somewhat haltingly. Corporate profits are increasing at a good pace and, combined with the correction in stock prices, have reduced price/earnings ratios a bit from their scary levels. Until last Friday’s report, job creation was lagging badly. Now there is more hope for gains that are a critical component of sustained growth.

Our country and most of the world faces challenges too numerous to enumerate, but perhaps a little sunlight is poking through the many clouds on the horizon.

We do our best to select securities for you that will appreciate in value and or throw off a cash return. Please realize that we will suffer some disappointments and that 60% is considered a good batting average in this business. All of our selections will not rise in value, but we have been successful in generating an overall return that has been more than fair for the risks assumed.

Please call us with your questions and concerns. That is part of why you pay us the “big bucks.”

Very truly yours,

Michael F. Cantlon