April 2010 Letter
It seems appropriate that we write to you on April 15 inasmuch as today is the day of tax reckoning with our Federal and State governments and taxes are the subject of our quarterly comments. Government has a major role to play in every aspect of our daily lives, but the increasing cost of funding all of its services and programs has most Americans concerned. We want our government to work efficiently and for our collective benefit. There are legitimate differences of opinion on the size of government programs, their intrusion on private industry, and our individual lives. This makes politics important and fascinating.
On a positive note, Covington just concluded a successful first quarter with assets under management continuing to grow as a result of improving market conditions and new clients. We thank both clients as well as referral sources for your support and confidence.
Debt and Taxes
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