As the year ended, we cannot help but look back, especially over the last two years, and maybe even farther, to the ups and downs that have occurred, and we are delighted to be on this journey with you!
Thank you for the Collaborative Journey; but “What Have We Done Lately?”
In true “What have we done lately!” form, as we look forward to 2022 and are always very careful to stray from a definitely forecast (burns from prior years attempts) we want to call your attention to the main article in our Newsletter called “The Anatomy of a Slowdown/Recession”.
We are not predicting a slowdown, nor do we want one, but we also know they do come, eventually!
The last decade has given us unique experiences that are somewhat muted from the normal slowdowns. A dramatic drop in 2020, followed by a dramatic and extremely fast recovery. In similar fashion, two drops in 2018, one early in the year and one late. Collectively, all very short in time!
If we really show our age (mostly present party speaking here) and look back to 2007-2009, that experience was the opposite of a normal slowdown and the absolute antithesis of the prior mentioned slowdowns, long deep and very frightening. Only to follow a 1999 to 2002 similar dramatic slowdown (really showing our age now, but we were there!)
So back to What Have We Done Lately, as we turn the page on the new year many of our allocations may need to be trimmed back “lower our risk“ and this may cause us to incur taxes depending on the situation.
We are always cognizant of taxes, heck we hate taxes and try to minimize them at all cost, but we don’t want the tax tail wagging the investment risk dog, and as such allocations and reallocations causing taxes but for the benefit of the portfolio safety may occur early this year.
Thanks again for enjoying the journey together, please make sure you are receiving automatic emails from our blog at www.street-cents.com as we post every MWF at 10:30 am CDT
Your Fourth Quarter summary is enclosed on the front page of this report we have included our most recent investment allocation from your Investment Policy Statement. This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.
Sincerely,
John A. Kvale CFA, CFP
Enclosure (2021Report, Private Policy)
J.K. Financial, Inc.
PRIVACY POLICY NOTICE
Our Promise to You
As a client of J.K. Financial, Inc., you share both personal and financial information with us. Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.
Information Provided by Clients
In the normal course of doing business, we typically obtain the following non-public personal information about our clients:
- Personal information regarding our clients’ identity such as name, address and social security number;
- Information regarding securities transactions effected by us; and
- Client financial information such as net-worth, assets, income, bank account information and account balances.
How We Manage and Protect Your Personal Information
We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law
In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information. Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.
Client Notifications
We are required by law to annually provide a notice describing our privacy policy. In addition, we will inform you promptly if there are changes to our policy.
Please do not hesitate to contact us with questions about this notice.
.
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Fourth Quarter 2021 Review, Looking Ahead, Private Policy
As the year ended, we cannot help but look back, especially over the last two years, and maybe even farther, to the ups and downs that have occurred, and we are delighted to be on this journey with you!
Thank you for the Collaborative Journey; but “What Have We Done Lately?”
In true “What have we done lately!” form, as we look forward to 2022 and are always very careful to stray from a definitely forecast (burns from prior years attempts) we want to call your attention to the main article in our Newsletter called “The Anatomy of a Slowdown/Recession”.
We are not predicting a slowdown, nor do we want one, but we also know they do come, eventually!
The last decade has given us unique experiences that are somewhat muted from the normal slowdowns. A dramatic drop in 2020, followed by a dramatic and extremely fast recovery. In similar fashion, two drops in 2018, one early in the year and one late. Collectively, all very short in time!
If we really show our age (mostly present party speaking here) and look back to 2007-2009, that experience was the opposite of a normal slowdown and the absolute antithesis of the prior mentioned slowdowns, long deep and very frightening. Only to follow a 1999 to 2002 similar dramatic slowdown (really showing our age now, but we were there!)
So back to What Have We Done Lately, as we turn the page on the new year many of our allocations may need to be trimmed back “lower our risk“ and this may cause us to incur taxes depending on the situation.
We are always cognizant of taxes, heck we hate taxes and try to minimize them at all cost, but we don’t want the tax tail wagging the investment risk dog, and as such allocations and reallocations causing taxes but for the benefit of the portfolio safety may occur early this year.
Thanks again for enjoying the journey together, please make sure you are receiving automatic emails from our blog at www.street-cents.com as we post every MWF at 10:30 am CDT
Your Fourth Quarter summary is enclosed on the front page of this report we have included our most recent investment allocation from your Investment Policy Statement. This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.
Sincerely,
John A. Kvale CFA, CFP
Enclosure (2021Report, Private Policy)
J.K. Financial, Inc.
PRIVACY POLICY NOTICE
Our Promise to You
As a client of J.K. Financial, Inc., you share both personal and financial information with us. Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.
Information Provided by Clients
In the normal course of doing business, we typically obtain the following non-public personal information about our clients:
How We Manage and Protect Your Personal Information
We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law
In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information. Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.
Client Notifications
We are required by law to annually provide a notice describing our privacy policy. In addition, we will inform you promptly if there are changes to our policy.
Please do not hesitate to contact us with questions about this notice.
.
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Posted in Clients/Clients Only, Economy, Investing/Financial Planning, Market Comments, Performance Report Cover Letter
Tagged Cover Letter, Quarterly Cover Letter, Quarterly Performance Cover Letter