To the extent that composite statistics represent reality, clients of Wealth Planning&Management did relatively well in 2000. The important word is "relatively."

The size-weighted composite return was -3.67 %, compared to -10.15 % for the S&P 500 index. So, we take solace that we did "much better than average." Our quarterly statistics demonstrate the market's volatility: up 8.52 % in the first quarter, down 3.66 % the second, up 4.09 % in the third, and down 6.7 % in the fourth. What a ride!

Curiously, our composite results were better when we measure only the progress of common stocks in our portfolios. (Results in the first paragraph include bonds and other asset classes.) This figure was up 1.53 %.

At the end of the year, WP&M had 53 different accounts, representing assets of more than 30 families. We had over $21 million under management. This month, January, 2001, we have a signed contract with a new family, and an oral agreement with another family, that will bring this total to almost $28 million.

The big news is that two professionals joined WP&M in January, 2001. Nancy Haddock joined as Principal Managing Partner and Senior Fixed-Income Portfolio Manager, while Andy O'Donnell joined as Investment Advisor Representative. To learn more about these fine persons, please read the February 15, 2001, edition of Thoughtful Wealth Planning & Management, that will be mailed and posted to our web site mid February.

JWG, 1/18/01