Dear Clients:

 

I believe it important that I reach out to you and give you some reassurance going into this weekend.

 

The news media is replete with stories of those investors and employees who have had their investment portfolios evaporate.  When Merrill Lynch became a business unit of BofA, it felt to me like a funeral was taking place.  The giants of the investment banking industry are gone, and the experience is an unnerving one for all.

 

However, I want to simply remind you that your portfolio has not been experiencing the bulk of the drama that we have seen in the market this past four weeks because we moved you to cash in the first quarter of the year. When looking back at our nation's economic history of eleven recessions, there have been none since the great depression that match what we are seeing today. 

 

Many investors are either woefully frightened, paralyzed, financially damaged, or all of the above.  Yet the clients of The Coggins Company have enjoyed the security of having their equities moved to cash early in the year. As a company, our clients have only seven percent of their assets in equities; and even that is the result of 3 separate purchases at the previously lowest points in the market. Going to cash in January is now looking incredibly smart.

 

So, as you go into this weekend, remember how happy you are.  I look forward to sharing my excitement about the enormous opportunities available to us, and I am paying careful attention to what history has tried to teach us.  As I sift through all the current data for what can cause my clients to continue winning, know that you will be getting an investment outlook from me very soon

 

Enjoy your weekend.

 

Sanford