The Prudent Retiree - February 7, 2022

Otis Redding, the “King of Soul” was one of America’s greatest musical performers. He sang and wrote powerful soul and rhythm and blues songs. Redding was a member of Memphis based Stax Records lineup that included Booker T. and Isaac Hayes. His first song was recorded in 1962 and by 1967 he had a string of hits and toured the US and Europe. His success culminated in an electrifying performance at the Monterrey Pop Festival in 1967. There, along with Jimi Hendrix, Redding set a new standard for popular music. He finished recording, “Dock of the Bay” at Stax on December 7, 1967. Tragically, he was killed in a plane crash three days later on his way to play a date in Madison, Wisconsin. “Dock of the Bay” was released in January 1968 and reached number one on the charts, the first song to ever do so posthumously.

Otis Redding made a meaningful impact on American culture. Redding’s songs are still heard today and the legacy of his music will live on. “I can’t do what ten people tell me to do, so I guess I’ll remain the same.” There is market wisdom in those lyrics. Endless opinions about inflation, the Fed, recession and what the market will do abound. Many more than ten people are telling us what to do. Prudent Retiree’s current allocation in IRA accounts is 50% equities and 50% cash. That is what the market is telling us is appropriate, so we’ll remain the same. We are doing more than sitting on the dock though, and we’ll monitor risk and metrics and make changes when appropriate.

Prudent Retiree wants to acknowledge the spirit and importance of Black History Month. We honor the contributions and accomplishments of all African Americans and hope for a more just society.

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Horseman Group – 3 CityPlace Drive - Suite 290 – St. Louis, MO 63141 – 314.692.7842 – www.horsemangroup.com

Advisory Services offered through Horseman Group. Securities offered through AW Securities, a registered Broker/Dealer, member FINRA/SIPC.