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 05.17.2010
A Letter from Phil
"Signs of a Rebound"
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NEWS ARCHIVE
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Philip Colby is
an Associate
with Raymond
James &
Associates and
can be reached
as follows:
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Raymond James &
Associates
100 Meridian
Centre Blvd
Suite 150
Rochester, NY
14618
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Toll Free:
1-888-846-7894 |
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Local:
1-585-274-5004 |
| E-mail:
Philip.Colby@RaymondJames.com |
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A Letter from
Phil
10.28.2009 -
Reassuring Words
“Yes, we think the recession is
over.” The capital markets have
stabilized, and a significant
bounce has resulted in the
equity markets.
As stated in my previous letters
in 2009. Those who have an
investment plan and stayed with
that plan still have the
opportunity to reach their long
term financial goals. Those who
let their emotions drive their
investment decisions are in a
very difficult situation to
correct. As I said “we’ve been
here before” a business cycle
like all those before it. And
the most important determinant
of the strength of an economic
recovery is the depth of the
downturn that preceded it. There
are no exceptions to this rule,
including the 1929-1939 period.
Again the 24 hour cable news
cycle has not been the long term
investor’s friend.
My opinion is that money has
reversed course away from hard
assets such as real estate to
liquid assets such as stocks and
bonds. This cycle will also
continue for some time as market
trends have done throughout
history. Simplicity and
understanding should be your
portfolio’s foundation. I also
believe the structural changes
that are occurring in America
will be very positive for us and
our future generations. It was
truly necessary to purge the
excesses that were so prevalent
in our society.
I feel we can look forward to a
“return to normalcy” as we move
forward.
For further conversation please
do not hesitate to call me.
Kind regards.
Phil Colby
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