January 2008 Letter
As you can see from our enclosed quarterly letter to clients and friends, it defies finding a simple title to cover our thoughts and expectations for 2008.
As we begin our fourth year at Covington Capital Management, we don’t remember a more challenging environment in which to make sound investment decisions given the political, economic, and world-wide issues impacting markets.
In spite of the volatility of stocks and bonds in 2007, Covington has continued to achieve competitive returns that are consistent with our clients’ objectives and risk tolerances. Thanks to many of you and the four talented investment professionals, who joined the firm during the year, assets under management grew significantly.
Our entire staff wishes you a most healthy and, yes, prosperous New Year.
Ghoulies
Investment Background
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