Enjoy some pictures of the move to our new offices!
Note: This article was written Wed. 9/7, two days before the current spate of volatility began, as expected.
In my last letter, in the midst of the so-called “Brexit crises,” I emphasized that the underlying economy was fine and markets would recover. Before we knew it, the S&P 500 was back to where it was – and then continued on to a new high. It was a great example of the importance of staying invested (appropriately for your risk tolerance), to wait until the market winds take off.
Never has the phrase “Keep Calm and Carry On” seemed more fitting as an investment principal. After all, the phrase comes from the Brits’ themselves. I wouldn’t be surprised if some of those posters were back up in the U.K. this week.
This is not a bull market. This is not a bear market. This is a bunny market. It hops up and down but doesn’t go anywhere.
With all the hype over the new Star Wars sequel, the Force Awakens, my family decided we needed to take the journey back into this world of light-sabers, black-masks, Jedi Knights, and Wookies. Who could resist the force, right? To prepare for this epic adventure, over the holidays, my daughters decided we needed to watch ALL the prior movies to prepare, while eating pecan pie and blue bell ice cream.
This summer I got hooked on sailing. Debra and I took lessons, learned the lingo, and got mesmerized by the interplay of wind, water and sail. One day we got out on the water with some friends only to find that there was very little wind. The forecast said the winds would kick in, but it was taking longer than expected. Should we take the sails down and head in? Instead we waited, sails up, in patient expectation. And in the end were rewarded with a beautiful day of calm winds. I’m glad we didn’t bring the sails down.
