Finger on the Pulse

CitrinGroup recently offered a free seminar on the importance of creating and following an investment policy statement. To watch the video, please click here.

Dollars and Sense

• Consumer Price Index (CPI) – The CPI measures the average price of consumer goods and services purchased by households. It is calculated by the Department of Labor's Bureau of Labor Statistics and is monthly data on the price paid by consumers for a predetermined basket of goods and services. Items tracked include: breakfast cereal, milk, wine, bedroom furniture, airline fares, prescription drugs, hospital services, and college tuition. It is often used to make economic decisions as it measures the relative inflation rate.
  
  
• New York Stock Exchange (NYSE) – The New York Stock and Exchange Board organized in 1792 when 24 merchants and stockbrokers signed the Buttonwood Agreement. The council remained private until April 2006, when it went both electronic and public. In 2007, NYSE merged with Euronext to form a force in global trading as the first transatlantic stock exchange.
  
  
• Investment Policy Statement (IPS) – An IPS is a document that provides the general investment goals and objectives of a client and describes the strategies to be employed to meet these objectives. Drafted through an unemotional framework, specific information on matters such as asset allocation, performance, risk tolerance, and liquidity requirements are important parts of an IPS.
  
  
• Diversification – In investing, diversification is a technique that mixes a wide variety of investments within a portfolio. If utilized correctly, proper diversification mitigates risks and fluctuations of a single asset, meaning any one investment will have less impact on the value of the portfolio as a whole.

CitrinGroup Making News

Each week, the Detroit Free Press features one Detroit business professional for his or her important charitable contributions in a section entitled "Giving Back." Jonathan Citrin was recently chosen as the featured "Giving Back" professional for his extensive work and accomplishments with Inkster-based nonprofit organization Starfish Family Services. To read the article in its entirety, please click here.