“At a challenging time for world financial markets, we value friendships more than ever.”
John A. Carey
“Undoubtedly the highlight of my professional year was attending the 50-year celebration for Dr. Klaus Jung in Wiesbaden on September 9 and having the chance to greet him on that magnificent occasion. Pioneer and Dr. Jung have had a close business relationship for four decades, and we cannot adequately express our gratitude for the warmth and benefit of that association. As the economic clouds gather, we recall that Dr. Jung and we have been through other difficult times and that after the storm has abated, the sun has always burst forth again in all its brilliance. We trust that investors will recall that now, when, in the U. S., so many stocks are selling at near record-low earnings multiples, and many corporate bonds, at near record-high spreads. To conclude, may I also send my congratulations to Dr. Sebastian Grabmaier, CEO of Jung, DMS & Cie. AG, and to the Angermayer, Brumm & Lange Unternehmensgruppe as they mark their tenth anniversary. Every best wish for 2009!”
