In the summer of 1885 William R. Travers, prominent NYC
businessman and builder of Saratoga Race Track, was vacationing
in Newport,  Rhode Island.
He pointed out a long line of beautiful yachts tied up in the harbor.
When he was informed that they all belonged to Wall Street
brokers he simply asked, " Where are their clients' yachts?".

Wall Street fads and investing styles
come and go. The only things that go on
forever are costs and taxes.

Why are you paying high fund fees, 12b1
fees, and sales charges when l
ess than
of mutual funds managed to beat
their benchmarks over the last five
years?  Who do you think is paying for
those yachts and bonuses?

At Obsidian Investment Management we
use Exchange Traded Funds and Index
Funds that track their benchmarks'
returns year in and year out. ETFs and
index funds have very low fees and they
are tax efficient. In many portfolios the
total cost to you, including our
management fee, could be less than  
what you are paying now for the sub- par
performance you may be getting.
At Obsidian:

We believe that the markets are efficient
but that investors behave inefficiently.

We believe unemotional management of
passive indexing investments can, over
the long term, outperform active
management of assets.

We believe that understanding risk is
more important than understanding return.

We believe the pain of losing money is
stronger than the happiness of making

We believe Institutional quality
investment management should be
available to the individual investor.

If you share these beliefs call                 
Dan Maffetone (516) 697-5514 for an
appointment and portfolio evaluation.
Where are the Client's Yachts?