Trovena Weblog

3rd Quarter Commentary

Dear Clients,

Although the Dow closed down 1.4% at 8,852.22 on Friday, it still ended the week up 4.8%.  The gain last week was the Dow's biggest weekly rise in percentage terms since March 2003.  While the Dow is not nearly our complete universe, we find it nonetheless remarkable that its best weekly return in over 5 years occurred amidst a barrage of commentaries suggesting economic Armageddon is just around the corner.

To combine the last five days of trading into a single number simplifies the story.  On Monday, most stock markets around the world had double-digit percentage gains, only to give most of those returns back over the following two days.  By Thursday, the bargain hunters were back, providing a mild gain, and the week closed on Friday with most of the world equity markets giving a little back.  All in all, last week, the markets gained about one-half of what they gain in an average year.

Below is a chart of last week's returns for the Dow Jones Industrial Average.

Merger Announcement!

To our clients,

It is my great pleasure to announce that Leonard Wealth Management, Inc. is completing a merger with Capital Financial Advisors, LLC a wealth management firm in San Diego.  Once the merger is final, the two firms will combine to form one of the premier wealth management firms in Southern California.

The new firm’s name will be Trovena, LLC.  The headquarters will remain in our Beryl Street office in Redondo Beach.

Over the coming weeks, you will receive multiple communications from us about this merger, much of which will be branded under the new firm name and logo:

All of our contact information will remain the same, with the exception of our new email addresses. 

Please visit the new Trovena website at www.trovena.com for the latest news and announcements.

All of us here at Leonard Wealth Management are very excited about this merger.  If you have any questions, please do not hesitate to call.

Cordially,

Scott A. Leonard, CFP^®