The Market Brendan
Believe the Newspapers or Believe the Market Even I have read so much doom and gloom, the "bubble"' will burst, that I started believing
what the newspapers predict instead of what I experience every day. I am going to continue to believe the actual market.
In our practice many segments remain healthy and some have returned. The fi rst-time buyer, step up buyers and step out (retire) sellers
are steady. Most importantly, there is new employment - our corporate clients are hiring. The relocation market has returned with great
vigor. To satisfy the clients' needs we still do not have enough well-priced inventory. Sound familiar? The volume of transactions is about the
same as last year and there is still price pressure. 2006 looks to be steady and fundamentally sound.
Other things to note: the fed is about done with rate increases (maybe two more), oil costs are dropping, US investment
fundamentals are improving and liquidity is growing - as a result the S&P 500, NASDAQ, Nikkei and gold are all very strong. There is
every indication this rally will continue. Watch the markets - not the newspapers.
R. Brendan Leary
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The Year In Review Duncan
Wow, thinking back through the year it is amazing that there was enough time to get everything done. 2005 was another stellar year.
Business with Brendan and the team again was both intellectually stimulating and exciting. Our clients are the best. It was a shame to lose Cathy
in her supporting role as she went off to be a new parent. The silver lining was fi nding Jaime, who has been a tremendous addition to the group.
Mia and I continue our lightning-fast exploration of the USA with vigor. The highlights this year were the New Orleans Jazz Festival (Aaron
Neville singing gospel … what a voice), catching up with an old friend in Chicago (amazing city … the food … the architecture) and seeing a little of
New England with a trip to Boston and Cape Cod.
Mia had a big change this year, jumping from the large corporate law fi rm world of Simpson
Thatcher & Bartlett to an amazing opportunity at Creative Commons, a non-profi t started by Lawrence Lessig, one of her Stanford
professors. To quote from their website (www.creativecommons.org): "We offer a fl exible range of protections and freedoms for authors and
artists. We have built upon the 'all rights reserved' of traditional copyright to create a voluntary 'some rights reserved' copyright." I prefer to say that
Mia is saving the world, one copyright license at a time. It is an exciting and challenging job that has even taken her to Geneva for a presentation to
the World Intellectual Property Organization, the Intellectual Property arm of the United Nations.
On the athletic front I had a great year becoming a more enthusiastic endurance runner. Mia and I ran our fi rst half marathon together in November and have another planned for February. I have fi gured
out that the 10k distance is much more to my liking with a 6th place overall in the San Francisco Coastal Trail Run in June being my high point.
Best wishes to you in the holiday season, and thank you for your continued support.
Duncan Stone |
The Year In Review Jaime
I got my Real Estate license in September. While studying for my license, I was also planning my
10-year High School Reunion from Santa Teresa in San Jose! We had a Casino Night at the Coyote Creek Golf Course in Morgan Hill. As
some of you may know, I used to be the Event Presentation Manager for the San Jose Sharks before joining Team Leary.
For this year's hockey season, I've enjoyed watching most of the Sharks games as a fan, but I'm also still a part-time entertainment
consultant for them. I really enjoy visiting former co-workers, as well as continuing to be involved with the team.
I've spent a lot of time in Southern California with my brother's family this year and plan to be there for Christmas as well. We've been to
Disneyland a few times, and I also helped them move into their new home. My brother and his wife are expecting their fi rst child in January, so
I can't wait for my new niece to arrive! I'm also planning a snowboarding trip to Tahoe over New Years with friends.
I hope everyone has a safe and happy holiday season. I can't believe I've already been here for nine months! It's been a great ride thus far, and
I'm looking forward to 2006!
Jaime Stoeckle |