Dear Friends & Family,

“No matter how dark things seem to be or actually are, raise your sights and see the possibilities  always see them, for they are always there.” — Norman Vincent Peale

“Be fearful when others are greedy, and be greedy when others are fearful.” — Warren Buffett. Mr. Buffett’s reason for buying stocks is due to this longstanding philosophy. He believes fear is currently widespread, and if stock prices keep looking attractive, he will eventually commit all of his non-Berkshire net worth to U.S. stocks.

Do you ever get the sense that we are “living history” at this very moment in time? Or perhaps you feel like you don’t know who or what to believe? Please moderate your TV news. A recent quote we thought you might appreciate: “Journalists thrive on catastrophes and the people who are interviewed are usually not investment professionals, but rather economists or politicians with an axe to grind.”

One of the most interesting pieces we have read recently came from the Morningstar website. We would like to share some of it with you:

‘This is the first time in our investing lifetimes when there is almost nothing anyone can say to make us feel better. There is no safe haven. No one is immune. The very people and companies we’ve long regarded as safe and secure — the best and the brightest — are the ones who have fallen the farthest and the fastest. And the entire global financial system is still in a meltdown. Everything we know about investing tells us this is precisely the wrong time to panic. If the world doesn’t end, this will be the buying opportunity of our lifetime. But it still doesn’t feel any better.’ — Morningstar

We hope you found this as comforting as we did.

Sincerely,

Katz Family Financial