This is the question we are all asking ourselves as the Federal Reserve throws money at Wall Street and the federal government throws money at Main Street. The market’s rise this past week has many hoping it’s a sign that recovery is imminent, and we’ll be getting back to normal soon. A look at the recent unemployment figures, however, suggest that normal may take more time.

To state the obvious, this economic downturn has been sharp and painful to many. Though undoubtedly still painful, it has been less so for our clients. We have been warning of a growing instability within the financial markets and also preparing to weather it for quite some time. Although no one likes to see losses in their investments, the year-to-date losses our clients have experienced to date have been far less than their respective market benchmarks (in many cases it has been 40-70% less).