The Bottom Line - - We continue to be optimistic and have advocated not taking any drastic action during this period of heightened volatility and decline. We believe that this environment will persist through the elections in two weeks but that the bias is ultimately to the upside. In our view, the current market environment presents a buying opportunity. Many stocks have been put on sale and we will continue to seek out solid companies with decent prospects for the future. We believe fixed income investing will continue to be difficult but that opportunities still exist in short term securities tied to increasing interest rates, low volatility portfolios, and high yield bonds.