This week on the Lebenthal Report we welcome back guest co-host Philip Blancato. Philip Blancato is the President and CEO of Ladenburg Thalmann Asset Management and Chairman of the Ladenburg Investment Policy Committee. He also serves as a Member of the Boards of Directors for affiliated companies: Ladenburg Thalmann & Co. Inc., Investacorp, Inc., Triad Advisors LLC, Premier Trust, Securities America, Inc., KMS Financial, Inc. & Securities Service Network, Inc. Philip is a Thirty year veteran of the financial services industry with a specialized knowledge of portfolio and risk management, asset allocation, and macro-economic theory as well as constructing and implementing seamlessly integrated platforms of fee-based solutions. Dominick and Michael discuss with Philip recent market movements and looking ahead towards the last quarter of the year.