Welcome to the September issue of Condor Monthly!
In "What's New at Condor Capital," we announce the hiring of Adam Schwartz. In "From the Portfolio Manager" this month, we discuss the recent addition of Apple Inc. to Condor's Large Cap Growth strategy portfolios. In this month's "Financial Planning Corner," we examine the importance of estate planning and its relevance to your family and loved ones.
The September issue of Condor Monthly is now available online along with an archive of past issues. To access past Condor Monthly and Condor Newsletters, just click on the link below or copy & paste the link into your favorite browser.
http://www.condorcapital.com/pages/f_online.asp
What's New at Condor Capital
Condor Capital is pleased to announce the hiring of Adam Schwartz as the Manager of Information Technology. Adam is responsible for ensuring that all technology-related areas of the business function properly and for planning and implementing future enhancements to the firm's systems and business processes. Adam previously worked for the East Windsor Regional School District Technology Department in East Windsor, New Jersey. Prior to that, Adam was in charge of MIS for The Association for Advancement of Mental Health in Princeton, N.J. Please join me in welcoming him aboard!
From the Portfolio Manager
Apple Inc., a diversified technology products manufacturer, is a recent addition to Condor's Large Cap Growth strategy portfolios.
Unparalleled Product Line
Apple has been in the business of manufacturing computers and related software since the 1980s, and over the last several years, has been enjoying significant recognition in the music industry. From its core operating system to its revolutionary portable music player, Apple's relentless dedication to producing the highest quality products has allowed the company to build an ever-increasing base of dedicated consumers around the globe.
While Apple has branched out into other areas, the Macintosh computer and its accompanying operating system (Mac OS) remain the firm's flagship products. In addition to their sleek and compact all-in-one design, Macs are well renowned for their stability and user-friendly operations. While Apple currently possesses only a 3% market share of the personal computer industry, its fiscal third-quarter sales grew over 30%, substantially outpacing the overall industry's growth rate. Going forward, the innovative Macintosh brand is expected to continue to grow at a materially faster rate than the rest of its peers.
Consumer Electronics
Besides its computer segment, Apple also designs and manufactures several electronic entertainment devices, including the revolutionary iPod portable music player and the recently released iPhone. The iPod, which is seamlessly compatible with Apple's online music store, single-handedly revolutionized the music industry. Due to consistent product refreshes, iPod sales totaled $7.6 billion during the 2006 fiscal year. Also, at the end of June of this year, Apple released the much-anticipated iPhone. The higher-end version of this mobile handset, which has nearly all of the capabilities of a desktop computer, debuted at a price of $599 per model. By the end of 2008, Apple expects to sell at least 10 million units of the iPhone.
Since purchasing Apple stock in the midst of the widespread turmoil that had been recently afflicting the markets, it has made a formidable recovery, testing levels seen before the turbulence. Because of a superior product line, a knack for innovation, and a burgeoning, dedicated customer base, we feel that Apple's shares currently present a solid investment opportunity for the long-term.
Financial Planning Corner 
Estate planning is not just for the wealthy or older generation. Every person should have a written Will regardless of age or economic status. It is especially important for anyone with minor children to prepare a plan in the event of their death, including naming a guardian. A guardian acts as a surrogate parent for minor children in the event that both parents predecease the child. Many couples struggle with the choice of guardianship and therefore, put off this decision. However, if you do not make a provision for guardianship, the court will choose a guardian for the children. If there are multiple volunteers, a battle over the children could ensue. If there are no applicants, the children could wind-up in foster care. Both of these undesirable scenarios could be avoided with a little advanced planning.
Typically, the best choice is someone who shares your parenting values and beliefs. Additionally, relatives, friends, or neighbors that the child knows well are often good choices. Due the significance of this choice, it is best to make sure your choice is willing to take on the responsibility. While most people name the same person to raise the children and handle any inheritance left to the children, these functions can be separated. Depending on the situation, separating the functions can reduce the burden on any one person or family. Lastly, the guardianship decision should be revisited from time-to-time as the children grow or if a life-changing event occurred to the initial choice as guardian. 
Don't forget to plan for your pets. Legally, a pet is considered tangible personal property, like your car, furniture, or jewelry. At your death, it will pass to the heirs of your estate who are otherwise entitled to receive your personal property. Are these the same people to entrust in the care for your pet? Finding and funding care for exotic or especially large pets, pets with very long life expectancies or special needs, or multiple animals can be even more difficult. Too many animals are left homeless or neglected after the death of their beloved owner.
Leona Helmsley, the cutthroat hotel magnate whose title as the "queen of mean" was sealed during a tax evasion case in which she was quoted as snarling "only little people pay taxes," died recently at the age of 87. In her Will, she directed that $12 million of her estate be used to establish a trust fund to care for her pet dog. Additionally, she left her brother millions, but only on the condition that he take care of the dog in her absence. While this may be extreme planning, most pet owners routinely overlook planning for their pet in the event of their death or long-term illness.
Don't know where to look for help? The Estate Planning for Pets Foundation is a nonprofit corporation organized and operated for educational purposes and for the prevention of cruelty to animals. Visit their website at www.estateplanningforpets.org to learn more about estate planning for pets, such as finding a caretaker, whether creating a "pet trust" is appropriate, and locating an attorney who is willing to facilitate the process.
