What a Great First Quarter!

On the last day of the quarter, the market closed at a record high, beating it’s record from 2007. This finally brings the general public back to where they were before the market crash of 2008. This is good. It gives people confidence in the market. But keep in mind that while the market finally got back to break even after 5 years, you, our clients, were back to new highs over 2 years ago, in 2010.

Our investment strategy continues to serve us well. It has protected us from the major market swings and allows us to earn a fair return. That is what we are doing again this year. Through the first quarter, our accounts are up…, beating our target of 1 percent per month. The covered call strategy that helps us in times of market turbulence, also slows us down during market upswings. It hedges our returns whichever way the market moves while allowing us to collect the dividends and reap the option premiums that generate a portion of our returns.

Many market pundits have been calling for a correction for the past month or so. They haven’t gotten one. Market corrections are good for the health of the overall market. They punish stocks that are overvalued as well as drive out people who are fearful of the market. Because the market has run up so quickly this year, we are keeping a somewhat conservative posture with our covered call strategy. We will be working to earn our 1 percent per month, but we are not taking aggressive bullish positions in case the market does decide to pull back.

We would like to remind everyone about our FINANCIAL AMNESTY program for current clients who have substantial ($100K and up) monies invested elsewhere. We welcome transfers to our care with no fees on that money throughout 2013. This is a one- time event which will not be repeated.

If you ever have any questions that are financial in nature, do not hesitate to call. We are here to help you.

Very Truly Yours,

Michael F. Cantlon

Thomas E. Guyett