12/12/2005

Trends Continue

Hello:

Trends appear to be continuing in the same direction, and so we do not see a reason to greatly alter our current investment philosophy. For example, the Fed is expected to raise interest rates another 1/4% for the eleventh time in a row tomorrow, which may effect other interest rates directly or indirectly. Gold is rallying, some say due to investment fund demands from the Middle East and Asia. (Please note, the election in Iraq is scheduled for this Thursday.) OPEC says they may cut output in January if oil prices get softer.

We have been invited to give a brief market and economic update on January 5th at the Orange County Planned Giving Roundtable. Please save the date on your calendar. Look forward to seeing you there!

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager