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March 2008 Certainly 2008 is off to a giant rollercoaster start with market swings up and down caused by the credit markets squeeze. Fortunately, the investment strategy for our families is based on the long-term with proper diversification and so we have not experienced an over reaction to the market situation. We believe that this is also the result of the regular meetings we hold with each client to review their portfolios. These meetings include candid discussions about the risk they are taking for the return they are receiving and a detailed analysis of each investment. Now for a brief update on Cymric. . . in time for Spring we have re-designed and upgraded our website, www.cymricfamilyoffice.com. In addition to the new look and colors, there is now an audio and video component, which enables site visitors to access more information in a simpler way. If you have a minute, please check it out and let us know what you think. On our website you may notice the Cymric Team photograph with a number of new faces. One of faces I have known for over 25 years belongs to Bob Dye, a business transaction attorney with considerable real estate experience. Bob has his own practice, www.ckdcounsel.com, but through a strategic alliance with Cymric he also represents many of our clients. This alliance with Bob enables us to offer clients another component in our Cymric family office services “package” -- and at a reduced hourly rate. If you would like to contact Bob Dye at his law firm, Charles, Kane & Dye, that number is (949) 852-8868. Another website that may be of interest is www.merage.uci.edu/ResearchAndCenters/CIWM. This is part of a newly established UC/Irvine Center for Investment and Wealth Management. As an Advisory Board member, I am proud to be a part of it; in particular because it will help source and train needed investment talent in Southern California. If the Center is of interest to you, please consider joining me as a Charter Member. I would be delighted to arrange a meeting for you with the Dean of The Paul Merage School of Business, Andy Policano if you would like to know more. Now for the estate tax update: A Senate Estate Tax Hearing was held on March 12 and another is scheduled for early April. I am not sure that they contribute much to the debate unless Chairman Baucus agrees to mark up a bill that could pass the Senate Finance Committee this year. Otherwise any action will merely be to “pretend” that steps are being taken to fix the tax. In 2009, the only opportunity could be to freeze legislation at a 45% rate and $3.5M lifetime exemption with a one-year of repeal being lost - maybe for a long time. The November elections will be a determining factor in what will happen in 2009. Over the next few months, I am speaking at several conferences. These dates and topics are listed on our website; I hope I will get to see some of you at these events. In the meantime, very best wishes from the Cymric Family for a bright and colorful spring. Yours truly,
Patricia M. Soldano |
