Commentary on Market Angst Around Elections

Elections are onetime events that create uncertainty.  Markets hate uncertainty.  Therefore, markets can have wide swings up and down before and shortly after such events.  Markets are ultimately driven by long term profits and growth and economic realities.  Economic indicators of late have actually been fairly positive and so we continue to be constructive on the long term underlying fundamentals of the economy.  It is anticipated that there will be some short term volatility but through the end of the year things will smooth out so for now, we are staying the course in our models, waiting anxiously for this election cycle to be behind us and the opportunity for the market to get back to looking at the long term fundamentals. Of course we will continue to watch, monitor and follow for signs that this is changing and will do our best to protect your hard earned capital.  As always we appreciate and take seriously the trust you place in us.