WHERE WE ARE HEADED 

There are a number of things we are watching carefully over the next few weeks.  Chiefly among them are the economy.  The weather has been blamed by pundits and government officials for the lackluster data coming in over the last few weeks.  Lackluster may be too kind as much of the data has been dismal.  With spring around the corner and no weather to blame, the economic measures will be watched carefully.  If stumbles continue, the markets will follow the economy - they always do eventually.  Another thing that bears watching is any subtle changes that the new Fed Chief Janet Yellen indicates.  Her first congressional testimony yielded no great surprises but if the economy continues to falter, all eyes will be on her to save the day.  It is no secret that the Fed wants to continue unwinding all of the quantitative easing it has instituted over the last few years but pressure will build from within and without if the economy turns sour again.  It is interesting to note that not too long ago the Federal Reserve market activity was reserved for market crisis.  Now it seems that the Fed is being asked (and obliging) to intervene in just the natural ebb and flow of the economy.  In our way of thinking, this continues to have danger written all over it.  Finally, and more long term, the fall congressional elections will increasingly create market tension as the market tries to determine if the Republicans can retake the Senate and what that might mean for the last two years of President Obama's term.  There is lots to chew on and it never stops being interesting.  We stand ready to respond to whatever direction the market turns.

HOW WE ARE DOING

As I mentioned in our last newsletter, the NashBills were dared by our children to keep our "Christmas" tree up all year.  We unveiled our Valentines tree last month and it is now time for the inaugural unveiling of the St. Patrick's Day tree below.

I will be making another visit to Knoxville in the coming weeks.  If you would like to visit with Sam and me please let one of us know and we can schedule a meeting.  For our clients, Fidelity and TD Ameritrade will be mailing out Form 1099 tax statements over the next few days.  Please watch for them in your mailbox.  Finally, we hope all of you have stayed warm this cold and snowy winter and that you find lots of gold coins under your St. Patrick's Day tree!

Sam and Bo  

We continue to make posts to our blog throughout the week so check it regularly if you want to see our thoughts.  You can access it by following the link below. 

THE GREATEST COMPLIMENT

In these uncertain times, a trusted financial adviser is more important than ever.  Whatever comes over the upcoming months and quarters, the markets are certain to have lots of volatility and wild swings.  Europe, the US economy and dysfunction in Washington, and continued trouble in Iran and the Middle East to name just a few.  If you have family, friends and neighbors that may benefit from our services, would you please forward this email and/or provide our contact information to them.  We purposefully do not spend time marketing our services so that we can devote all of our resources to managing your assets.  Thank you to all who have provided us referrals - it truly is the greatest compliment you can give us.      

Remember to visit our blog for market comments and observations in between newsletters.  We try to provide a few comments in between newsletters and certainly when there is a particularly interesting market day.  You can access it by clicking here. 

Published by Sam C. Bills, Jr.  Copyright � 2008 Bills Asset Management.  All rights reserved.

BAM Market Wrap is produced and distributed regularly via email by Sam C. Bills, Jr. of Bills Asset Management  3001 Flagstone Drive, Franklin, TN 37069 Phone (615) 371-5928 Fax (615) 250-4903 - www.Billsasset.com

Bills Asset Management  is an independent registered investment advisor (RIA) not associated with any financial institution.  Data used in this publication is gathered from reliable sources, although completeness and accuracy cannot be guaranteed.  Performance results do not take into account any tax consequences and are not predictive of future results.  This publication does not give any specific investment advice, does not provide financial planning services, or consider any individual's financial situation, needs or goals.  This publication may not be reproduced or retransmitted in whole or in part without the consent of the author, Sam C. Bills, Jr.

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