May 23, 2013 (DJIA 15,294.72, S&P500 1,648.48)
US Treasury rates have been rising quite a bit
The Five Year Treasury rate (^FVX) is at 1.074%, it was at 0.54% on July 24,
2012. 5 year Rates have increased 98% since July 2012.
The Ten Year Treasury rate (^TNX) is at 2.189%, it was at 1.394% on July 24,
2012. 10 year Rates have increased 57% since July 2012.
The Thirty Year Treasury rate (^TYX) is at 3.336%, it was at 2.452% on Jul...y
24, 2012. 30 year Rates have increased 36% since July 2012.
I think Greenspan once said that interest rates can not be predicted.
My hopes are that FED can continue to dictate interest rates, and when they feel
it is proper to start to raise them. My fears are if the world ignores the FED's
mandate, and rates rise quickly.
When we design portfolios, the above has been a common thought process in our
implementation and research of specific investments.
As always, we welcome the opportunity to discuss our outlook and investments
Ronald R. Redfield cpa, pfs
Redfield, Blonsky & Co. LLC
15 North Union Avenue
Cranford, NJ 07016-1103
908 276 7226 phone
908 276 7274 fax
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a client of ours, and if you have questions regarding the company or
investment mentioned in this report please call our office. If you are not a
client of Redfield, Blonsky & Co. LLC Investment Management Division and are
reading these notes, we urge you to do your own research. We will not be
responsible for any person making an investment decision based on these notes.
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idea, which causes us to eliminate our long or short position of the company
or investment mentioned in this report from our portfolios. We will not
notify readerís revisions to these notes. We are not responsible to keep
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reason whatsoever. We manage portfolios for clients, and those clients are
our greatest concern as it relates to investing. Certain clients of Redfield,
Blonsky & Co LLC may not have the company or investment mentioned in this
report in their portfolios. There could be various reasons for this. Again,
if you would like to discuss the company or investment mentioned in this
report , please contact Ronald R. Redfield, CPA, PFS (partner in charge of
investment management division).
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completeness cannot be guaranteed. Opinions, estimates, and projections
constitute our judgment and are subject to change without notice. This
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1. Redfield, Blonsky & Co., LLC (RBCo), only transacts business in states
where it is properly registered, or excluded or exempted from registration
2. Past performance assumes reinvestment of dividends and other
distributions and may not be indicative of future results. Therefore, no
current or prospective client should assume that the future performance of
any specific investment, investment strategy (including the investments
and/or investment strategies recommended and/or purchased by adviser), or
product made reference to directly or indirectly in this presentation or
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be profitable or equal to corresponding indicated performance levels. The
investment return and principal value of an investment will fluctuate and,
when redeemed, may be worth more or less than their original cost.
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there can be no assurance that any specific investment will either be
suitable or profitable for a clientís investment portfolio. No client or
prospective client should assume that information presented is a
substitute for personalized individual advice from the adviser or any
other investment professional.
4. Historical performance results for investment indexes, such as the S&P
500, generally do not reflect the deduction of transaction and/or
custodial charges or the deduction of an investment-management fee, the
incurrence of which would have the effect of decreasing historical
performance results of the S&P 500 Index.
Whenever RBCO performance is referred to, results have been reduced
by all fees, including RBCO management fee.
5. Returns for the RBCO portfolios have been calculated using actual
time-weighted returns obtained from all accounts over the time periods
indicated. All RBCO returns assume the reinvestment of dividends and are
shown net of the investment management fees and all other expenses.
Please see our form ADV for a full fee disclosure.
Actual individual account performance may be materially different
from our composite results.
RBCO files an annual form ADV, which includes an easy to read brochure.
Form ADV is a valuable read for anyone interested in learning more
about RBCO. Additional information
about Redfield, Blonsky & Co., LLC is also available on the SECís website
www.adviserinfo.sec.gov . The searchable IARD/CRD number for Redfield,
Blonsky & Co., LLC is 128714.
7. The S&P 500 Index is a widely recognized, unmanaged index of 500 of the
largest companies in the United States as measured by market
The S&P 500 Index
performance assumes reinvestment of all dividends and distributions and
does not reflect any charges for investment management fees or transaction
expenses, nor does the Index reflect any effects of taxes, fees or other
types of charges and expenses.
The S&P 500 Index is one of many indices and is not necessarily the most
appropriate index when comparing performance results.