The Prudent Retiree - April 2019

“All Aboard!”

          - “Crazy Train” by Ozzie Osbourne

The Mueller Report is finally out. After almost two years, all questions are answered and everyone is satisfied. Congress and the President can now go about the People’s business. Well, we can dream.

Ozzie needs no introduction. The word that comes to mind is crazy, so he’s probably well suited to comment on the state of Washington, D.C. All aboard! We are now on the crazy train. Ozzie sang “crazy, but that’s how it goes. Millions of people living as foes.” That’s where we stand and how the fallout from the Mueller Report will most likely continue.

Expect headlines and allegations to dominate the news cycle. Political scandal won’t dominate the market—the economy will. Avoid the temptation to make the connection between politics and the market. The crazy train may go off the rails, but the market won’t as long as inflation and interest rates are low. Employment is strong and companies are profitable. The market is saying that’s what matters. The market ignores political screech and so should we. Headlines may cause temporary disruptions, but they won’t drive market direction.

The market is near the all time high made last September. We may struggle a bit to surpass that point. Once that hurdle is cleared, Prudent Retiree expects a continued move higher. We remain fully invested.

Ozzie sang that “mental wounds are still screaming.” He must have been listening to political television and talk radio. All aboard!

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