Welcome to the June 2010 issue of Condor Monthly!

Please continue below to view the "From the Portfolio Manager" and "Financial Planning Corner" segments in this month's issue.

From the Portfolio Manager

(AMT)

Large Cap Growth Strategy Update

Condor Capital has initiated a position in American Tower Corporation, a global wireless and broadcasting infrastructure provider that has a site portfolio consisting of more than 27,000 towers and 2,000 rooftops.

Smartphone Growth

As smartphones, which provide customers access to internet, e-mail, music, videos, and other multimedia become more affordable, the amount of data transmitted over wireless networks has skyrocketed. One estimate by Cisco Systems projects that data traffic from mobile phones will increase 130% annually until 2013. This increase in smartphone sales, and the subsequent increase in data transmission, will likely lead to a shortage of wireless capacity. A recent government stimulus package will provide funding for 2,200 new towers, though estimates have shown that some 11,000-14,000 new towers will be needed going forward.

International Exposure

In addition to the company's strong prospects within the United States, it also derives 15% of its revenues from international sources. All of American Tower's international exposure is in emerging markets such as Mexico (9%), Brazil (5%), and India (1%), which are collectively poised for a huge expansion in the number of wireless customers.

Expanding Spectrum

On June 28th 2010, President Obama announced his support for a plan to nearly double the available wireless spectrum. The Federal Communications Commission has proposed a plan that would identify 500 megahertz of wireless spectrum that could be used to help meet the increased demand by smartphones and laptops. The Commission hopes that by October 1st of this year, it can identify unused capacity that could be brought online within five years.

Potential Change in Structure

Lately, there has been some chatter about American Tower becoming a dividend-paying Real Estate Investment Trust. Such a move would provide a considerable tax advantage for the company and would also attract an entirely new segment of investors seeking steady income. Wireless infrastructure companies have many things working in their favor right now, given the robust growth in data transmission through various electronic gadgets such as smartphones. Their attractive business model, which is highlighted by long-term leases and annual price increases, serves American Tower particularly well because of its larger size and greater reach across the world. Add to all of these positive traits the stock's attractive valuation at these levels and we feel that AMT presents itself as a solid investment for long-term investors.

From the Financial Planning Corner

Protecting your Identity

Unfortunately, there is no cure-all or surefire way to keeping your identity safe. Yes, identity theft can happen to you. But that does not mean there is nothing you can do to limit your exposure and reduce your potential risk.

Perhaps the most important facet of identity protection is limiting access to and the exposure of your personal information. It is important to maintain control over your personal information, as the less available it is to identity thieves, the less likely they will be to acquire it. You must always take caution when giving out your personal information and be sure that you know exactly who it is you are handing it over to and why they need your information.

Unfortunately, many identity thieves do not need to contact you directly to gain access to your information. Like a parasite, the goal of an identity thief is to go completely unnoticed while they steal from you. Where then, are thieves able to access your private information?

Ending Pre-Approved Credit Offers:

Most of us have received pre-approved credit and insurance offers in the mail, and most of us have tossed them as junk mail. Whether pilfered right out of your mailbox or dug up in the trash, your pre-approved credit offer in the hands of a skilled identity thief can be a golden ticket to brand new accounts in your name. The good news is that you can opt out of these unsolicited and unwanted mailings by either calling 888-5-OPT-OUT (888-567-8688) or by visiting the Consumer Credit Reporting Industry's official website at www.optoutprescreen.com.

Electronic Security:

As we have moved into the digital age, our lives have begun to center around our personal and work computers, PDAs, and smart phones at an ever increasing rate. While these electronic devices have brought about tremendous benefits in terms of productivity and convenience, they have also given rise to new security risks as more and more personal information becomes available on the World Wide Web. So while we can download books and movies, shop for anything imaginable, open bank accounts, and share pictures with far off relatives from the comfort of our living rooms, identity thieves can attempt to steal our information from theirs.

A favored tactic of these living room bandits has been to use what are called "phishing attempts" in which the scammer will falsely claim to be from a bank, insurance company, or other institution or company. Phishing attempts do occur over the telephone and through the mail, but they are far more prevalent through email. The scammer will send you what appears to be an urgent message requesting that you reveal your private information. Do not be fooled. Your bank or any other institution will not send you an unsolicited email requesting your personal information. If you are ever in doubt, contact the institution or company the email claims it is coming from. Frankly, if it looks like a scam, chances are it is one. Delete these emails and notify any institutions or companies they were trying to impersonate. Additionally, do not open any email attachments included in these phishing attempts or from other unknown senders, as they could contain malware such as computer viruses or spyware meant to steal information off of your personal computer. To help protect your computer from malware, keep your computer's operating system and antivirus software updated with the most recent versions.

Additionally, the rise of social networking sites like MySpace and Facebook in this digital age raises significant security and privacy concerns. Be wary of the amount of personal information you post on these sites and be sure to make use of any available privacy controls. Assuming you filled out every field on a Facebook profile, your full name, home address, phone number, email address, birth date, photo, and employer would all be accessible in one convenient place.

Vigilance is Your Best Friend:

The unfortunate reality is that, despite any efforts to protect yourself, you can still become a victim of identity theft. Therefore, in addition to safeguarding your information as much as you can, you must remain watchful of your own personal finances and your credit score. Always check your credit card bills and bank account statements for charges or withdrawals that you did not make. If you find any unusual activity, call your bank or credit card company immediately. Additionally, you are entitled to one free credit report per year from each of the three major credit reporting agencies, Equifax, Experian, and Transunion. The longer an identity thief is using your identity, the longer he or she has to run up a large debt in your name.