With 2008 behind us, we would like to say good riddance. What a dreadful year for equity investors. The fourth quarter continued to discount significant economic weakness and credit strains with stock prices down across the board. There were few places for an investor to hide. Even the safety of cash came into question during the quarter. We have never taken so many questions from clients that were so worried about the safety of their cash.

With 2008 behind us, we would like to say good riddance. What a dreadful year for equity investors. The fourth quarter continued to discount significant economic weakness and credit strains with stock prices down across the board. There were few places for an investor to hide.Even the safety of cash came into question during the quarter. We have never taken so many questions from clients that were so worried about the safety of their cash.