Raymond James Analysts Deliver 2009 Best Picks

Fifteen stocks have made the 2009 Raymond James & Associates’ Analysts’ Best Picks list, which highlights individual stocks that the firm’s seasoned analysts expect to produce superior overall results during the course of the year ahead.

The Analysts’ Best Picks list, now in its 14th year, has outperformed the S&P 500 index – an unmanaged index of 500 widely held stocks – by an average of 27.1% annually over the past decade*. Although we are just finishing what has been an extraordinarily difficult year for equity investing, I believe the overall results of this list reinforce the wisdom behind Raymond James’ long-term investing approach and present opportunities. The results presented should not and cannot be viewed as an indicator of future performance, however. Individual results will vary and transaction costs related to investing in these stocks will affect overall performance. There is no assurance that the list will achieve the results expected and investors may incur profits or losses.

Over the years, patient investors who demand a disciplined approach and take an extended view of their investment goals and long-term financial needs have fared very well by making use of this consistently high-performing list of stock recommendations. Since 1999, a total of 107 stocks have been recommended. Of those, 66 (61.7%) advanced and 41 (38.3%) declined within the suggested holding period. A complete record of all Analysts’ Best Picks since 1999 is available upon request.

If you have questions about the new 2009 Analysts’ Best Picks list, or if you would like more information on the history of this annual listing, the markets in general or any specific investments in your portfolio, please do not hesitate to contact me. As always, I look forward to hearing from you.

Sincerely,

Ronald White

Branch Manager

*Annual average Analysts’ Best Picks total return performance minus the comparable S&P 500 performance for 1999 through the close of December 4, 2008. The holding period for each year's list is approximately 55 weeks from the inception date to December 31 of the following year. An investor would incur commissions (and interest charges if transacted in a margin account) to transact these recommendations.