The Prudent Retiree - May 3rd, 2024

Robert Johnson, the great Delta blues singer and slide guitar player went down to the Crossroad in the 1930s. Johnson was one of the most influential musicians of the 20th century. Many myths surround him. One, in particular, said he sold his soul to the devil at the Crossroad to become a musical genius. Probably not, but no doubt about the genius part. Countless guitar players and bands have emulated his style and covered his songs. Notably, Elmore James and Cream, fellow Rock and Roll Hall of Famers, recorded hit versions of Cross Road Blues. Sadly, Johnson became perhaps the first member of Rock’s infamous 27 Club  -  rock stars who died tragically at age 27. The Club includes Jimi Hendrix, Janis Joplin and Jim Morrison. Johnson was murdered by a jealous husband. Perhaps he double crossed the devil.

Sun risin’, sun goin’ down is a fitting metaphor for the stock market. I’m sure that thought never entered Johnson’s mind, but investors worry about the daily ups and downs. The market has been risin’ since the beginning of 2023. When will it start goin’ down? No one knows the answer. We can only listen to the market and follow where it leads. The market pulled back slightly in April. Short term corrections can happen anytime, but we are still in an overall uptrend. We continue to maintain our allocations. No adjustments are needed.

Worry about what will initiate the market goin’ down is always present. We seem to be at a crossroad as the Fed has recently indicated it will probably maintain interest rates higher for longer. By itself, that is potentially negative for the market. Inflation stubbornly remains above target. The economy continues humming along, though consumers seem to be feeling the pain of higher prices. The rate of inflation has declined, but how much more are you paying for food, gas, insurance and all else than you were four years ago? The headwinds of global conflict and instability are cause for concern. We are also buffeted by political craziness and domestic unrest. Lots of potential risk. We are aware of these risks and prepared to take action to avoid loss. For now, though, standin’ at the crossroad, Prudent Retiree will follow the positive direction of the market and hold our equity investments.

The Horseman Group – John, Bill, Renee and Dexter

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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.