06/27/2005

Halftime

Hello:

As we head into the end of the second quarter, we see bonds starting to outperform stocks * . Is it the window dressing of portfolios before the 2nd quarter report gets sent? Is it indicative of a slowing economy in the near future? We would guess that it is a little bit of both.

We will be attending the LPL Annual Conference and meetings Monday through Wednesday of this week. We will be checking our emails and voicemail frequently.

*bonds represented by Lehman Aggregate Bond Index; stocks represented by Standard & Poors 500 Index.
Indexes cannot be invested into directly. Past performance is no guarantee of future results.

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager