Ugly Nasty Quarter, From Gain to Loss!

This was the kind of quarter we dread….What is going on? Lots of bad news from Europe, the still ugly housing market and an employment picture which refuses to improve. We seem to be out of recession, but the normal rebound is nowhere to be found. Professional investors hang on every newly published statistic hoping to find a favorable trend. So far, nothing

Stocks are very cheap now by any measure- but they can still get cheaper. We have found success, over the years, by having our money in the game when the tide turns. We expect to deploy more cash at these bargain basement levels.

Our dividends and option premium income are again saving the day while we wait for the recovery to take hold. As mentioned in our last letter, Fidelity Investments now has performance data available on all accounts. You can find it online and compare it to stock market yardsticks. Call us to clarify any questions.

Very truly yours,

Michael F. Cantlon

Thomas E. Guyett