Best September in 71 Years

September was great, accounting for most of our gains for the entire year.

What happened? Why? Will there be more? When can I spend it?

Tough questions. We were positioned to take advantage of the wonderful gains since we believed that the worst was over and that stocks were undervalued. We still believe stocks are cheap compared to fixed income. Dividends are fair and option premiums, though down, still provide a nice total return.

We are quite pleased with our year to date gains especially since they follow the gangbuster year of 2009.

We are generally upbeat, but still cautious, about the final quarter of 2010. Our accounts, individually and collectively, are at all time highs and our assets under management are approaching $60 million. Thank you for referring your friends and relatives. We assume they are also thanking you. Remember, you can check your performance online with Fidelity Investments and compare to the major indices. We will be happy to guide you.

Since the Federal Estate Tax is in total limbo, we suggest you hold off on any estate tax planning and trust formation until the new legislation is passed. This may not be until mid -2011.

Very truly yours,

Michael F. Cantlon

Thomas E. Guyett