October 2009 Letter
As we look back over the past nine months of 2009, it has been quite a volatile ride for both the economy as well as the financial markets. However, we are pleased to report that Covington continues to prosper and our assets under management reached a record high as of September 30, 2009. More importantly, our clients have come through this period with strong absolute performance. The first part of the enclosed letter to both clients and friends of Covington touches on some basic fundamental beliefs that guide our approach to making investment decisions. We also discuss the major trends likely for the economy and our current outlook for the financial markets. Halloween historically has been a fun time for family and friends and tends to represent the beginning of year-end holiday activities. All of us at Covington wish you good health and prosperity as we close out the year 2009.
Trick or Treat
Back to Commentary
