02/12/2008

Can Buffett Buffer the Markets?

Hello:

Markets are rallying this morning on the news that billionaire investor Warren Buffet is offering to help support the municipal bond market. According to MarketWatch, the gains came after Buffett's proposal to reinsure $800 billion in municipal bonds, which helped to quell fears of further write-downs if bond insurer credit ratings were downgraded.

We believe that the markets are overdue for a rally, but time will tell.

LPL received permission to delay issuing 1099's until mid-February, in an effort to reduce the number of restated 1099's. Please feel free to contact us with any questions.

Terri G. Millson, CIMA, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager