The guest speaker for our meeting was Mr. Ross R. Pake, CFP --- LPL Wealth Advisor, Principal and Owner of Legacy Wealth Management.
Ross (a financial counselor to several EIPA members) provided personal and professional background on himself and his Company in addition to distributing two outstanding handouts tied to supporting his presentation.
He also provided the group members with a stock pick challenge, which he will follow up on, and report, which one of us picked the best performing DOW stock-he will revisit in January 2010 to make the announcement and award.
The theme of his presentation was entitled, "The Psychology of the Stock Market".
He pointed out his clients are predominantly retirees from large Corporations such as Edison International, Boeing, Rockwell International, Exxon Mobile and other large companies having employees retiring in our Southern California vicinity.
Ross used his personalized handout that included articles, graphics, trending information from the historical past in the market and pictorials to describe market investing from the standpoint of an emotional driven investor vs. a more disciplined statistics based rationale.
He also provided us as the second handout a handy "booklet" entitled "Market Insights-Guide to the Markets" by the J.P. Morgan Asset Management Group, which he frequently referenced and which contained much interesting and informative insights.
Some key points in his presentation were the recognition of market opportunity periods during transitional periods---like recessionary intervals and likewise and when to recognize an overbought market and the converse the oversold condition as signals when to increase and reduce your stock holdings.
He discussed the relationship between interest rates, Federal Reserve activities and bond yields and pricing.
He concentrated some time on discussing the historical "Yearly S&P 500 Return and Price to Earning Ratios" and the performance in that index over the last 30 years and the conclusion that could be drawn form the performance during that interval of time.
Ross Pake's presentation was both interesting and valuable to the retiree investor because he modeled the presentation in understandable terms and made some of the relationships and terms in market investing more familiar and relevant to the casual investor and/or to those who do not follow their market investments placed with a financial organization closely but who hope their financial counselor will keep them getting a respectable rate of return on their retirement investment and who may be extremely nervous in this time of market and economic uncertainty.
Terms like "contrarian" in terms of an investing approach were discussed and he addressed concerns like -- when will the next "bubble" come about (he feels it may be in the bond market) and if we might experience a double recessionary dip-he feels statistically no-if certain levels are realized in the next reporting periods this year.
One interesting factor Ross pointed out from the J.P. Morgan data in the handout booklet is that under "Political Perspectives" -Stock market returns by political party control is maximized statistically under a situation where the Republicans hold both houses of congress and the Presidency is held by a democrat.
The two most disadvantageous configurations occur in terms of market return when the same party holds both houses of Congress and the Presidency.
Message to us-vote Republican for our Congressional representatives and the Senate in November at least once, or more often if possible!
Ross has his office located at 3810 E. La Palma Ave.-Suite A, Anaheim, CA 92807 And his phone number is (888)-767-7237. contact: email@example.com .
Ross Pake is a Certified Financial Planner with a proven track record of success.He has thirty years of experience, and holds numerous business and industry designations, degrees and certifications.
He currently manages more than $100 million.
Ross Pake is a Retirement Rollover Specialist and High Net Worth Advisor.In 1996 he founded Legacy Wealth Management, formerly Ross Pake, CFP & Associates, a firm located in Tustin, California.Ross Pake is a 1984 graduate of the University of California-Santa Barbara, where he earned a Bachelor of Arts in Business Economics.His career in finance began one year later.
Ross Pake also earned a second degree from UCSB, this one in Communication Studies.Ross Pake holds a Personal Financial Planning ("PFP") certificate and designation from the University of California-Irvine Extension, and a CFS designation from the Institute of Certified Fund Specialists.
Ross Pake also holds Financial Industry Regulatory Authority licenses, including FINRA Series 7, FINRA Series 24, and FINRA Series 63.
Ross Pake lives in Southern California, where he is associated with countless charities - so many, he says modestly, that they are "too numerous to mention.
Along with his wife and his firm, Legacy Wealth Management, Ross Pake is involved with at least a dozen worthy causes in Orange County.
His most notable recent work in this area includes philanthropy and fundraising for the Mission Hospital Foundation, with which he became associated in 2011.
Ross Pake served as Sponsorship Chair to the 21st Annual Mission Hospital Golf Classic in the summer of 2013.
The same year Ross Pake established Legacy Wealth Management, he joined LPL Financial, America's #1 Independent Broker-Dealer, as reported by Financial Planning Magazine.He has been named to LPL Financial's Chairman's Club or Chairman's Council every year consecutively since 1997.
Ross Pake has been married for twenty-five years, and is the father of three children.
Legacy Wealth Management may be reached toll-free at: (888) 767-7237.
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