Blog Author - Craig - Sycamore Financial Group

Elections and the Stock Market – Winter 2006

Hello from Sycamore,

There has been a lot of speculation recently about the affect the recent elections may have on the stock market, so I thought I’d do a little reading to see what the numbers say.

The White House: I came across an article written by Jeremy Siegal Ph. D., that compared the stock market performance starting in 1948 while Republicans or Democrats controlled the White House. This comparison falls heavily in favor of Democrats. Under Republican presidents for this period, the market gained just over 9.5% per year while under Democratic presidents it gained more than 15% annually. The article did not identify which index was used as a measure, but I’m assuming a broad index similar to the S&P 500.

Now, to the recent mid-term elections where we saw a shift of power; So far, the most recent election seems to be having no significant effect (negative or positive) on the market. It’s continuing to roll along at a good clip. In the past we’ve seen similar results. An article by Dirk Hofschire posted on Fidelity’s investment website, states that for the one year period following the last five mid term elections, the Democrats are followed by slightly better stock market performance (24% to 20%). But what really struck me in this article, was the amount of the one year return immediately following these mid-term elections regardless of the winner. Large and small cap stocks since 1950, averaged 17.2% for the year immediatly following the election. For the years when the election of congress coincided with a presidential election, the return averaged 13.3%. When the congressional election was not a presidential election year, (such as just passed) stocks averaged 32.9% for the 12 months following the election….interesting!! Lets hope for average this year!

While this type of information can be entertaining and fuel for banter, I personally think that the Democratic vs Republican differences are merely coincidence. Additionally, it’s important for you to know that we do not use this type of information when investing your money. We stay focused on fundamental information, such as earnings and dividends. We pay no attention to the man behind the curtain!

As always, feel free to contact us with any question or request. Kokomo 765-455-1554 Anderson 765-643-9333.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:05:45-04:00December 20th, 2006|2006 Newsletters|0 Comments

Investment Rates – Fall 2006

Hello from Sycamore,

Money Market Accounts, Free Checking and CD’s

Over the last year or so interest rates have risen to more normal levels. We thought this would be a good time to remind you of some of the “cash” type of investments that are available to you through your account with Sycamore Financial Group.

Money Market: All of our accounts come with a money market* attached automatically. Currently this account earns interest at the rate of about 4.4% You may already know that a money market account works essentially the same as a savings account. You can elect to have checks issued on this same money market account if you would prefer to use it as a savings/checking. There are no limitations on the checking privilege which is free.

There is a $100 minimum balance required to earn any interest.
You may elect to have a “stand alone” money market account with free checking. This can be a good way to earn more on business checking accounts.

Certificates of Deposit: Each week we receive CD** offers from about 50 or so banks. We simply buy the one that suits the client best. Three months to five years and most everything in between.

Most of us keep a little “mad money” available in these types of accounts. Chances are we can help you earn a better rate of interest.

As always, feel free to contact us with any question or request. Kokomo 765-455-1554 Anderson 765-643-9333.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:12:24-04:00September 29th, 2006|2006 Newsletters|0 Comments

Tax Increase Prevention – Summer 2006

Hello from Sycamore,

Tax Increase Prevention and Reconciliation Act of 2005

We all received some good news on the tax front recently when president Bush signed the Tax Increase Prevention and Reconciliation Act of 2005 into law. This tax law basically extends the current tax advantages given to stock dividends and realized capital gains for two additional years through December 31st 2010.

As you are likely already aware, stock dividends and capital gains are taxed at a reduced rate from ordinary income. If you are in the 10% or 15% marginal tax bracket, your dividends and capital gains are currently taxed at 5%. This is a substantial savings (66% less) from the tax rate on your ordinary income. If you are in the 25% marginal bracket or higher your dividends and capital gains are taxed at 15% a savings of 10% to 20% depending on your bracket. The new law extends these lower rates for dividends and realized capital gains through 12/31/2010.

Additionally, if your dividends and capital gains would ordinarily be taxed in the 15% bracket (the 5% tax rate as described above), they will be tax free for the years 2008, 2009 and 2010.

These reduced tax rates do not apply to fixed investments such as Corporate Bonds,CD’s or Savings Accounts.

As interest rates rise and start to compete with stock returns, this tax advantage should continue to give equity investors a significant tax advantage. This could help support stock prices relative to other investment options.

If you have been wanting to convert your regular IRA to a ROTH but your taxable income is too high, there is some (deferred) good news for you in this new law. Starting in 2010 the $100,000 modified AGI limitation no longer applies. Additionally, income created by the Roth conversion can be spread over tax years 2011 and 2012.

Another change in the new law is an increase in the exemption amounts for AMT (Alternative Minimum Tax). In 2006 (only in 2006) the exemption amounts are $62,550 for Married Filing Jointly,$42,500 for Single filers and Head of Household and $31,275 for Married Filing Separate.

Finally, more than a few of you will be interested to know that the “Kiddie Tax Law” now applies to children under the age of 18. The previous law applied only to children under 14 years old.

If you have any questions about the new tax law or it’s effect on you, feel free to drop us an e-mail or give us a call. Kokomo 765-455-1554 Anderson 765-643-9333.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:26:52-04:00July 22nd, 2006|2006 Newsletters|0 Comments

E-mail Delivery of Annual Reports – Spring 2006

Hello from Sycamore,

E-mail delivery of annual reports & proxy information

Many of you enjoy and benefit from the reports that arrive each year from the companies in which you own shares. Others are not interested and would prefer that we not send them. We are required to send the reports. However whether you enjoy the reports or not, you can change these mailings from your regular mailbox to your e-mail “in box”. Then it’s simply a matter of deciding if you want to keep and review, or delete. This is a good way to save a few trees, some money for the company your invested in and get back into the good graces of your postal carrier.

If you have received a mailing and would like to receive future mailings via e-mail do the following.

Go to www.investordelivery.com
Enter the control number from your facing page. This number generally has an arrow pointing to it and will likely be in a box.
Select the submit button on the left for initial enrollment.
Enter your e-mail address and a PIN (any PIN you would like to create should be okay).
Next check the box at item five.
Click the “submit” button.
Your finished!

This is not a global authorization, you must do this for each company that you own.
________________________________________________________________________________

If you have received a proxy to vote and want to vote your shares electronically, then sign up for e-mail delivery of future proxies and other mailings, simply follow the instructions below.

When you receive a proxy, go to www.proxyvote.com
Enter the control number from your facing page. This number generally has an arrow pointing to it and will likely be in a box.
Next select the option to vote. Since you received your proxy by regular mail, select the vote button on the left.
At the next page you can make voting selections if you wish, or simply vote the “directors recommendations”.
On the following page, click on “final submission”.
On the next page, click on “Click here to sign up for electronic delivery”.
The last page asks you to enter your e-mail address and provide a PIN (any PIN you would like to create should be okay).
Next check the box at item five.
Click the “submit” button.
You’re finished!

Remember, these authorizations are not global and must be completed for each company that you own. Feel free to call us if you have any difficulty.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:06:16-04:00April 8th, 2006|2006 Newsletters|0 Comments

Looking at Some Economic Indicators – Fall 2005

Better Than It Seems

As we’re meeting with our clients this fall, many are pleasantly surprised with the performance of their investment accounts. We frequently hear something like “ That’s great. With the market and economy being in so much trouble we were concerned that our investments may be as well” It seems that today more than at any other time, the perception of both the economy and the markets (mostly from the media) is very much different from the reality (the actual performance numbers).

The perception: crippling hurricanes, high gas prices, increasing interest rates and, so far this year, a quietly sagging stock market. Ouch!

The reality: Hurricanes? Nothing new there. Gas prices? Adjusted for inflation, the’re in the same neighborhood as 1982*. Interest rates? It could be that the rising interest rates are a positive indicator about the strength and the expansion of our economy. A quietly sagging stock market? Truth be known we’ve come to appreciate quiet markets.

Let’s take a look at some economic indicators.

The Department of Commerce reported that second quarter 2005 Gross Domestic Product grew at a 3.3% annualized rate. A good rate.
Housing starts rose 3.4% for September 2005 to an annual rate of 2.11 million units**. This is the fastest pace since Feburary and one of the highest rates ever.
The Bureau of Labor and Statistics reported that the September 2005 unemployment rate was 5.1% (not the best we’ve ever seen, but certainly not the worst). Over the last twelve months ending in August 2005, payroll employment grew by an average of 194,000 a month and the unemployment rate has trended downward during that year.

Those of you who have been investors over the last ten,twenty, thirty or more years know that there is always an abundance of negative news. You also know how well the markets overall, and in particular your individual investments, have performed over those same periods.

We’re not saying that everything is rosy; we know that there is room for improvement. We are however, recommending that the next time you feel a little uneasy because of the current dose of bad news, call us for a closer look at reality.

Thanks for your business,
Sycamore Financial Group

*The Big Picture. Posted 8/17/05
** U.S. Department of Commerce report dated 10/19/05

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:13:34-04:00August 20th, 2005|2005 Newsletters|0 Comments

Changing Interest Rates – Spring 2005

Hello from Sycamore,

Corporate Bonds and Changing Interest Rates

Many of you own corporate bonds and recently, after receiving your monthly statements, a few of you have called to see what’s wrong with you your “fixed” investments. Sooo….we thought this may be a good time to review how most corporate bonds work and discuss how future interest rate changes may effect your bond investments in the future.

Generally speaking, bonds and other fixed rate investments guarantee the interest that you will receive and the return of your principal at some future date known as “the maturity date”. This means that if you invest $1,000 into a $1,000 bond that pays 3% interest and matures in three years, you will earn $30 per year in interest ($90 total). When the three years have passed the entity guaranteeing the return of your principal will pay to you the original $1,000 that you invested. It’s important to note here that the guarantee of the return of your investment is only as good as the entity that is making the guarantee. During the time between your purchase and the maturity date, the market value of your investment can, and most likely will, fluctuate.

Here’s an example of how that may work and why. Let’s suppose that interest rates were at 3% when you bought the above hypothetical bond. Then, during the next year, interest rates rose to 4%. Compared to the current interest rate of 4% your investment (which is still earning 3% because the interest rate is guaranteed) looks a bit puney. Because another investor buying a bond today knows that they can receive 4% by purchasing other bonds, they will not want to pay you the full maturity value ($1,000) for your bond because it pays less interest (3%). So, in our hypothetical, if you decided to sell your investment after holding it one year instead of keeping it untill the maturity date, (something that you can do with most fixed investments) you would be forced to reduce the sale price to a level that would allow the new buyer to attain a yield of 4% on their investment.

All bond purchase or sale transactions are published, so at the time that you buy or sell, your transaction would determine the current market price of your 3% bond. If your sale had taken place at a price of $850 for example, then all other investors who hold this same 3% bond would see their bond valued at $850 also. This would give them a good idea of the amount that they would receive today if they would sell their bond, but have virtuall no effect on them if they are going to keep their bond until maturity. Remember, at the maturity date, investors get the full $1,000 principal amount returned, regardless of current interest rates.

So how does this affect you? If you own bonds, or other fixed interest rate investments, in todays rising interest rate environment, your monthly statements will likely show a decline in the market value of your investments. Remember, this market value is important only if you are actually going to sell your investment prior to the maturity date. If you intend to keep your bonds untill the final maturity date, this “current market valuation” is simply FYI and when the final maturity date arrives you will realize the rate of return that you locked in when you originally purchased your bond.

If interest rates continue to rise (we think that is likely in the near future) your “market values” will probably decline some more. If interest rates reverse direction and start to decline, then you will see your “market values” begin to rise. Generally speaking, bonds with longer maturity dates will fluctuate more that shorter term bonds. Because of this and our current rising interest rate enviroment, we have been recommending that investors purchase bonds that have short (three to five years) maturity dates. Also, since your principal return is guaranteed by the company that you are investing in, we recommend that you buy only “investment quality” bonds.

We realize that these concepts are somewhat confusing, so if you have questions or would like more information give us a call or drop an e-mail.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-20T15:33:27-04:00April 28th, 2005|2005 Newsletters|0 Comments

Effects of Higher Energy Prices – Winter 2004

Hello from Sycamore,

What are the effects of higher energy prices on our economy?

This question comes up several times each day, and while all of us know the effect of higher gas prices at the pump, it’s more difficult to see the overall effect of higher energy prices on our economy. I’ve done a little poking around lately searching for a satisfactory answer to this question and along the way have come across some interesting and positive facts about energy usage in the United States. Prepare to be pleased…

According to the American Council for an Energy Efficient Economy, “The total primary energy use per capita in the United States in 2000 was almost identical to that in 1973. Over the same 27 year period economic output (GDP) per capital increased 74 percent”…”National energy intensity (energy use per unit of GDP) fell 42 percent between 1973 and 2000.”…”The energy intensity of the economy dropped over 3% per year during 1996-2000.”

Where did these gains come from? Here are a few examples:

The average rated fuel economy of new cars increased from 16 mpg in 975
to 28 mpg by 1987. Trucks increased from 15 to 26 mpg over the same period.
Average electricity use of new refrigerators declined from 1725 kWh/yr in
1972 to 685 kWh/yr by 1999.
The energy used to produce a ton of steel declined about 25% from 1975 to 1994.
The amount of energy used per ton of pulp and paper production declined
27% from 1970 to 1994.

These gains are, I think, significant and the current estimates are that by 2020 we could be using as much as 20% less energy than we are today. Nothing will encourage us to conserve, and find alternative sources of energy more than high prices. Who knows, possibly these spikes in our energy costs are, in the long run, good for us and our economy.

So back to the original question, what effect will the high energy prices have on our economy? Certainly it will put some upward pressure on the inflation rate and jobs in some industries may be lost while others will be created. Additionally, at least temporarily, higher energy costs will likely put a damper on our rate of economic growth. Considering the information above about our energy efficiency, we think the effect of higher energy cost on our economy should be relativly small and will likely be significantly less than it was in the mid seventy’s when this type of increase last occurred.

We are all fortunate to have the opportunity to invest in and be a part of a very efficient (sometimes brutally so) economic system. So far this “supply and demand” thing seems to be working pretty well.

As always, if you have any questions or would like additional information, please feel free to send an e-mail or give us a call.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-20T15:47:37-04:00November 25th, 2004|2004 Newsletters|0 Comments

Tax Freedom Day – Fall 2004

Hello from Sycamore,

Tax Freedom Day

I ran across some good (relatively speaking) news about taxes and wanted to share it with you. In 2004 it was estimated that, as a country, we reached Tax Freedom Day on Sunday April 11th. This is the earliest we have reached this date since 1967 and it’s 21 days earlier than in 2000. The two major reasons for the lighter tax burden are the recent tax cuts and the post recession economy that is not producing tax revenue as quickly as growth.

Tax Freedom Day is the day when all Americans have earned enough to pay off their total tax bill for the year. All income sources and all taxes (local,state & federal) are included. In addition to a Tax Freedom Day for America, there is also a Tax Freedom Day for each state. A few that may be of interest are Indiana, April 7th, Florida, April 8th, Alaska, the best at March 26th and Connecticut, the worst at April 28th.

The average American works 36 days to pay Income tax, 28 days to pay social security tax, 16 days to pay sales and excise tax, 11 days to pay property tax and 9 days to pay corporate income taxes. Somehow the corporate income tax works it’s way down to the average consumer, what a surprise!!! On average we work more days each year to pay taxes (101) than we do to provide housing and household operations (66) or food (31). Can you see the indigent at the intersection holding a sign that reads “will work for taxes.” :-)

It always seems that our taxes are far too high but historically, America has been a low tax country. In comparison, look at Great Britain, with an estimated tax freedom day of June 11th this year, or Canada who’s tax freedom day was estimated as June 27th in 2004. There are, of course countries with earlier tax freedom dates than the Unites States but these countries may not have the provided services that we have come to expect in America. While it seems that taxes are a burben,and they are, we really do receive quite a bit in return. Some examples are social security benefits (retirement, disability, etc.), medicare, public schools, business loan programs, disaster relief, college loans and grants, and, most importantly, a military that protects our way of life.

Tax freedom day was earlier this year than it has been for 37 years. Of course, we’re all looking forward to more improvement, but in the meantime we’ll take the current reductions with a smile.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2022-07-21T12:26:23-04:00October 18th, 2004|2004 Newsletters|0 Comments

Long Term Care Insurance – Summer 2004

Hello from Sycamore,

Should you consider long term care insurance?

Almost every time we are completing a financial or investment plan the discussion gets around to long term care insurance. Of course most clients want to know three things…1) Do I need it? 2) How does it work? & 3) How much does it cost?

Do you need it?

Lets look at the needs part of this threesome first. First, you should understand that as we identify who needs this type of insurance we are considering the financial need only. Your personal preferences are not a part of this calculation but of course when you are applying our analysis, your “feelings” are VERY important. The annual cost of staying in a nursing facility for one year in Indiana, is about $50,000 and the average stay is 2.6 years, so who really needs long term care insurance? Well, we can easily eliminate two groups of people, those that are very wealthy & have substantial income and those that have virtually no assets or income except social security.

If you have substantial assets, and a reasonably good income, we feel that you should consider self insuring and do not necessarily need long term care insurance. As an example, let’s assume that you have investment assets of $600,000 and a current income from Social security and pension of $24,000. The income you receive would be used to pay almost one half of the cost of your care. If your $600,000 was invested and earned only 5% per year, it would provide another $30,000 annually. That amount would be enough to pay for the balance of your care. Under this scenario, you could self pay and still maintain your current assets. This example assumes a very simple situation. You, however will likely will need to consider other variables such as a spouse, dependent or other financial obligations.

For individuals that have very limited assets, we feel that insurance is not needed because Medicaid will very soon be paying for the care. Additionally, long term care insurance is an additional expense and if you have limited resources you may find it unpleasant to pay the premiums.

We generally recommend that the clients with assets between 100,000 and $600,000 and the desire or need to protect those assets for their survivors should consider long term care insurance.

How does it work?

The are several different kinds of policies and a variety of coverage’s available. One that we feel should be given serious consideration is the Indiana Long Term Care Insurance Program. The following is a very brief discussion of how this program works.

Administered by the Office of Medicaid Policy and planning, these policies are a partnership of sorts between Indiana and certain insurance companies who have agreed to offer long term care policies that meet the standards set by the state. The goal of these policies is to allow you as an insured the option of protecting a part or all of your assets if you need to go to a long term care facility. There are variations on the theme but the general drift is that a holder who has purchased a policy with a minimum benefit that will cover the full cost of an average stay in a facility (about $187,613 currently), will qualify for Medicaid without spending down their assets. This does not protect your income, only your assets.

How much does it cost?

The premiums vary depending on the amount of coverage you select and your current age and health. We have listed a few samples below but your best path is to get a personal quote if you feel that you need or would like the coverage.

These selected premiums are for policies that will give you asset protection under the Indiana Plan. They are general estimates only.

Age	Aproximate Annual Premium
50	$1,700
60	$2,500
65	$3,500
70	$5,200
75	$8,400

If you have specific questions or would like more information, feel free to send an e-mail or call.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2020-01-13T06:02:48-05:00March 12th, 2004|2004 Newsletters|0 Comments

Mutual Funds Inquiry – Winter 2003

Hello from Sycamore,

As you already know, trading procedures in the mutual fund industry are being reviewed. We thought you may want to know our position on this issue. We are not the final authority on this subject and these are simply our thoughts.

Mutual fund investigations have focused on two areas of trading: late trading and market timing. Late trading, which is illegal, refers to the activity of placing a buy or sell order of a mutual fund after the market closes (4:00 p.m. eastern time) and still receiving that day’s price per share. Late trading benefits investors by allowing them to trade on news that occurred after the end of the trading day at prices not available to other shareholders. Market timing refers to frequent moves in and out of the market. Market timing is legal. The complaint is that market timing, in certain situations, is “inappropriate” and could harm other investors (most of you know that we do not believe that market timing works).

It is our understanding that the top 80 mutual fund companies have been asked to provide the SEC and other regulatory bodies with information regarding their trading practices, so don’t be surprised if you recognize a name in the news. Highly publicized names like Putnam and Strong are not accused of the illegal activity of late trading, but of insufficient oversight in the gray area of market timing.

Is there anything that you should do?

First, we caution investors not to get swept up in the media storm. If you purchased funds from a mutual fund company criticized in the news, remember you own the stocks and/or bonds mutually owned by the fund shareholders; you do not own the stock of the company being criticized. Therefore, if any values go down due to this short term crisis, it will be the stock of the managing company, not the securities of the companies they have purchased for you.

Second, projected and estimated losses reported in the newspapers might sound large because they are talking about one cumulative number; however, if losses exist, the number would be relatively small for any individual investor. According to Stanford University finance professor Eric Zitzewitz, any losses are likely to add up to 1% or less in lost returns in a given year ($10 or less for each $1,000 invested.) (Wall Street Journal 11/4/2003) An article in the December issue of Forbes put it this way “ Putnam is the nations fifth largest fund family, with $146 billion In fund assets, according to Lipper. The reported $700,000 in improper trading profits several of it’s traders made amounts to a 20th of a basis point, or 48 cents per $100,000.” At this time, it is not clear what losses will be and any estimates are purely speculative.

Third, Stay focused on what is important. Negative, sensational reporting of this problem sells magazines and newspapers but it is not intended to help you earn more on your investment portfolio. Dalbar, Inc. reported in a 2001 study that for the period from January 1984 through December 2000 “the average equity fund investor realized an annualized return of 5.32% compared to 16.29% for the S&P 500 Index”. The reason for the stark difference in returns is that many investors jump in and out rather than remaining invested. We feel at this time, the best course of action is to monitor the situation but stay the course with your current investments.

As the “Dean of International investing”, Sir John Templeton, has frequently reminded us, “Investing is risky for many reasons and the possibility of corporate malfeasance or impropriety is one of them, but…the opportunities are still great”.

Thanks for your business and trust,

Sycamore Financial Group

_________________

Past performance does not assure future results. Investors cannot invest directly in the stock market indexes such as the S&P 500. Invest return and principal value of an investment will fluctuate. Investor value, when sold, may be worth more or less than their original cost. The material in this presentation is for illustrative purposes and does not reflect any particular investment.

By Sycamore Financial Group|2020-01-13T08:19:34-05:00November 15th, 2003|2004 Newsletters|0 Comments

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