Happy Holidays

As the holidays rapidly approach, I would like to take a few moments to wish you a Merry Christmas, Happy Hanukkah, or other Holiday you may be celebrating, as well as a joyous, healthy and prosperous New Year.  I appreciate your confidence and trust in me, and I am always here to assist you with any questions or concerns you might have about your investments.  Please feel free to contact me by phone or email any time you’d like to discuss your account or schedule an appointment.

The Presidential election set off a major Santa Claus rally in the markets this fall, and I am actually quite impressed as the Dow Jones Industrial Average flirts with 20,000.  The ¼ point increase in the federal funds rate agreed upon by the Federal Reserve at the December FOMC meeting will hardly be felt by savers or borrowers, but it does confirm the future direction of interest rates.  It also indicates the economy is performing in line with the Fed’s dual mandate of a 2% annual inflation rate, and an unemployment rate at or below 5%, which these days indicates full employment.

The annual Christmas Price Index released by PNC, another indicator of inflation, albeit quite tongue in cheek, also suggested a very slight increase in prices.  The overall cost of all of the items in the song “The Twelve Days of Christmas” rose by an annual rate of 0.7% for 2016.  The cumulative cost of the items listed in the song, including all of the repetitions, would set you back $156,507.88 this year.  For the entire PNC report, please visit the following link:  https://www.pnc.com/en/about-pnc/topics/pnc-christmas-price-index.html .

Some of you may receive a Client Account Profile Form in the mail sometime in 2017.  This form is needed to update your contact and other required information.  Please make any necessary adjustments to the form, and return it in the envelope provided. 

Rebalancing and the diversification of accounts is a continuing process which has been successful and very well received.  If you wish to opt out of the rebalancing and diversification program, or provide updated information, please contact me by the telephone number or email address listed in the heading of this Holiday Greeting or by returning the form below.

If you have any questions or concerns about your accounts, please don’t hesitate to get in touch with me.  End of the year consolidated statements and the Winter Newsletter will be coming in January, 2017.  Referrals are always welcome!  

John H. Kaighn

If you have had any changes in address, phone number, email, marital status or would like to set up an appointment, please contact me by phone, email or by completing the form at the bottom of the page & mailing it to the address above.

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