The Prudent Retiree - July 2018
“When you get confused, listen to the music play.”
- The Grateful Dead
There is so much to be confused about in the markets—political instability, tariffs, battling with allies and turning a blind eye to enemies. There certainly seems to be a New World Disorder.
What should investors do? The Grateful Dead have rocked on for more than fifty years. They have endured the deaths of founding members, adjusted to new players and bickered with one another. Their current lead guitar player was not even born when the band first played. The grandchildren of the band’s original fans fill concert halls and festivals for Dead shows. One would think they would live on only in music’s history books, but the band plays on.
You might ask, so what? Think about the market. Many pundits have cited the above factors as reason for an imminent market collapse. President Trump’s election was going to cause that. President Obama’s, too. The Greek financial crisis, the government shut down and Iranian and North Korean unrest were also going to end the bull market. The music, however, has continued to play and the market has moved higher.
When you’re confused you should listen to the music play—the music of the market. Of course there are challenges and Prudent Retiree believes the market may be getting long in the tooth. We see no reason for change at this time. Stay invested. We’ll continue to monitor all the confusion and observe how the market itself reacts.
Risk management will, as always, be our guiding principal. Market cycles, like the Grateful Dead, go on and on. There will always be confusion. Listen to the music play—it keeps you calm.
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Horseman Group – 3 CityPlace Drive - Suite 290 – St. Louis, MO 63141 – 314.692.7842 – www.horsemangroup.com
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Investing involves risk including loss of principal. No strategy assures success or protects against loss.