Of late, I've spent a lot of time writing about how to structure client conversations.

Just talking to clients isn't enough, however. For a conversation to be effective, the advisor has to present as reasonably confident - if advisors do not seem confident in their assessments and recommendations, there's little chance that clients will be.

In markets such as the ones of late, this can be a huge challenge - many advisors I've spoken report feeling mentally and physically drained at the end of the day.

Here are some strategies that can help you stay confident and maintain positive energy in tough markets. You may have heard some of these before - but this may still serve as a useful reminder. It's not just advisors who need to stay positive, of course - at the bottom of this commentary is an email sent to her clients by Kathy Fish, a financial advisor in Memphis, that I am reproducing with her permission.

1. Seize control of your agenda

Few things drag you down more than feeling overwhelmed and out of control. Some strategies to seize control of our agenda:

• Clutter kills energy. Clean up the office environment you work in - today. Keep one piece of paper on which you list all the calls that need returning. Use file folders to organize piles of paper on your desk.
• Focus on priorities. Start each week and each day by taking the time to list the most important things you have to get done that day - the calls to make, the emails to send, the meetings to prepare for.
• Block time. Time blocking works - once you're identified your top priorities, ensure you block out the time in your day to make them happen.
• Recognize success. As you place each call, send each email or nail each activity, tick it off the list or draw a line through it with a yellow highlighter; it's amazing how good it feels to see all those yellow lines on your to do list.

2. Look outside for positive voices

Feeling like you're the only one with a positive outlook can be very lonely. At those times, look for reinforcement by other positive voices.

Two examples - last Thursday, Warren Buffett wrote a piece in the New York Times talking about why he is shifting his personal portfolio to U.S. equities. And last Monday, Burton Malkiel, Princeton economist and author of the seminal text "A random walk down Wall Street", wrote a column in the Wall Street Journal making the case for staying invested.

If you haven't seen them, links to these articles are below - they can be a shot in the arm both for you and your clients.

Op-Ed Contributor: Buy American. I Am.
By WARREN E. BUFFETT
I've been buying American stocks. Why? A simple rule: Be fearful when others are greedy, and be greedy when others are fearful.

WSJ.com - Opinion: Keep Your Money in the Market* This article will be available to non-subscribers of the Online Journal for up to seven days after it is e-mailed.

3. Identify strategies to stay positive

After a tough meeting or series of meetings, it's natural for our confidence and energy to dwindle. Kathy's note below has some suggestions for you to consider. Other triggers that will allow you to recover and get recharged:

For some advisors, a quick trip to Starbucks gives us lift. For others, it's a 5 or 10 minute walk outside. Or perhaps there's a piece of music or a short talk on a DVD or tape that helps us recapture our sense of enthusiasm.

4. Incorporate activities to build energy into your routine

Times such as these can drain energy from advisors. Some simple techniques to help you maintain a higher level of energy throughout your day:

• Starting the day with half an hour of exercise lifts our energy level for the entire morning - even a brisk walk helps.
• Your mother was right - ensuring you eat breakfast will help fuel your activity level.
• Taking short breaks to get some fresh air and sunshine in the middle of the morning, at lunch and again in the afternoon can make a big difference. (Consider the positive impact of the good weather across Eastern Canada the last two weekends.)
• Ensuring you have good lighting in your workspace can help maintain energy levels - especially as we approach the darkest part of the year.
• Follow best practices on diet - rather than having two or three big meals, try more frequent smaller meals, with healthy snacks throughout the day. In particular, stay away from big hot meals at lunch that put you to sleep for the afternoon.

5. Avoid negative people

Energy is as infectious as any cold or flu. We may not be able to pick our clients but we can select the colleagues we choose to chat with. Most offices have someone who is quick to spread the latest bad news - talking to them drains your mood. If you seek out positive people and stay away from negative ones, you'll find it easier to maintain an enthusiastic outlook. (This was one of Kathy's suggestions also.)

Not all of these approaches will be right for every advisor. What's important is to recognize the critical importance of bringing a confident, positive outlook to client interactions - and putting in place the strategies to help us achieve that positive mindset.

CLIENT EMAIL FROM KATHY FISH, FISH AND ASSOCIATES, MEMPHIS

Dear ,

I just returned from a due diligence meeting with Russell Investments, one of our investment partners. With the events that occurred in the market last week aside, I'm taking a different approach on my commentary this week. Please indulge me.
I take my job as your financial advisor very seriously. Over the past two weeks, I have been challenged on a daily basis by the market, the media, my clients, and at the very core, my belief system. I am very grateful for the support of my family, my dedicated employees, my colleagues and the families that we serve. I also appreciate the opportunity we have to help make your life better as we guide and advise you on creating the life you envision, as well as the income you need to carry out your goals and dreams.
I'm writing to remind you that being invested in the market is a long-term proposition. There have been brief periods over the past few weeks when I began to doubt myself, but I realized I am allowing myself to react to the panic and turmoil that exists in this very volatile market environment. As a long time yoga practitioner, I have learned to utilize many tools to deal with stress and turmoil. I'd like to share some of the concepts that I practice on a daily basis that are available to each and every one of you. Before you point fingers at who's to blame for the current situation in the market , please consider the following:

1. What you think matters. You have 100% control over what your thoughts are. But don't just think good thoughts, let them inspire you to create positive actions. I start each day writing down five things I'm grateful for. Try it - it will shift your thinking and have a positive affect physically and emotionally.


2. Do something. Action takes your mind off the negative situation and produces results. Watching the market on an hourly basis won't change anything. Turn off the TV. Go on a walk, take your child to lunch, call your sibling. You get the idea.


3. Who you hang out with matters. I surround myself with positive people, talk to colleagues and friends who will inspire me. Don't commiserate with people who will bring you down. You have total control of who you hang out with.


4. Increase your confidence. Reflect on past events in your life that have presented a challenge. Remember how you survived and most importantly that you did survive! This too will pass.


5. Prepare for the future. Take a look at everything you're doing. Revisit what your values and goals and dreams consist of. Come in and talk to me about your concerns, your challenges, and we'll work this out together.

Action leads to positive results. We will come out of this turbulent time!


6. Take the time to pause. When you find tension or angst building, or feel fearful or helpless, close your eyes. Take in 10 slow deep breaths. As you inhale and exhale, think of something or someone that is important in your life and take a moment to reflect. Open your eyes.
Go ahead, try it right now. This is how I always start my yoga practice. I assure you this will have a positive effect on your blood pressure, your heart rate, and more importantly your attitude.


7. Print this e-mail, cut out the six concepts, place them on your bedside table. Pick it up each morning to remind yourself you are in control.

Let's keep our collective eyes on the future, and call me, Kaye, Dee, or Becky if you need a lift. Thank you for your business, your support and your friendship.

Warm regards,
Kathy


PS: Call me if you want to hear more about a Russell economic outlook! Please feel free to forward this e-mail to family and friends. We can all benefit from this kind of advice.

***********************************************************************************************************************

Good morning!
The S&P 500 fell 18.2% last week, almost meeting the "20% decline" definition of a bear market in just 5 trading days. It was the worst 1-week tumble for the index since July 1933. The plunge across stock markets worldwide totaled $7 trillion for the week. From its all-time closing high in October 2007, the S&P 500 has fallen 42.5%, making it the 3rd worst bear market in the last 50 years. US stocks have dropped an astonishing $8.4 trillion in value in the last 12 months (source: FT, WSJ).
Leaders of 20 major countries met in Washington D.C. over the weekend to plot the next steps for the central banks throughout the world. The financial framework that may come from the discussions is likely to be played out in the next few weeks. The US government is considering multiple strategies to deal with our financial crisis, including the infusion of capital directly into banks where cash levels had dropped significantly; ending the dearth of lending activity by banks; taking an equity stake in the form of preferred, non-voting stock in banks; guaranteeing inter-bank loans; and lending money directly to public corporations (source: BTN Research).


The last 4 Mondays have produced an average daily loss of 5.3% for the S&P 500, a streak stock investors are looking to end today (source: BTN Research).

Notable Numbers for the Week:

1. PREDICTIONS - At the end of 2007, equity strategists from 12 Wall Street firms were asked to forecast where the S&P 500 would be as of 12/31/08. The predictions ranged from a high of 1750 to a low of 1525. The stock index began this year at 1468. The S&P 500 ended last week at 899 (source: Barron's).

2. DEPRESSION JUNKIE - Ben Bernanke became the Fed chairman on 2/01/06 or more than 2 ½ years ago. A 12/07/05 WSJ article quoted him as saying "I am a Great Depression buff, the way some people are Civil War buffs." Bernanke attributed his early fascination in the Great Depression to conversations he had with his maternal grandmother who had lived through the Depression in Norwich, CT (source: WSJ).

3. BANKS - More than 1,000 banks closed in 1930, 3 years before the Federal Deposit Insurance Corp. was created. 13 US banks have been taken over by the FDIC in 2008 (source: FDIC, WSJ).

4. HOME VALUES - There are 76 million households nationwide that own their home. The number of households that own their home free and clear of debt (24 million) is twice that of the number of households (12 million) that have mortgages in excess of what their house is currently worth (source: WSJ).

Securities and Investment Advisory Services offered through NFP Securities, Inc., a Broker/Dealer, Member FINRA/SIPC and a Federally Registered Investment Advisor. NFP Securities, Inc. is not affiliated with Fish and Associates.

This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.

If you do not want to receive further editions of this weekly newsletter, please contact me at 901-767-0668 or e-mail me at becky@fishandassociates.com or write me at 699 Oakleaf Office Lane, Suite 105, Memphis, TN 38117.