The Prudent Retiree - July 2019

“Look out child, you’re bound to change,

 You can’t ever stay the same

 Cause if you keep singing the same old lines,

 You’re going to look around babe and find your friend is out of town.”

- “Fool Yourself” by Little Feat

Little Feat is one of my favorite bands. I still remember listening to them for the first time in my college fraternity house. Their music was the last I heard before entering the church to say “I do.” In Prudent Retiree’s opinion, they should be in the Rock-and-Roll Hall of Fame. I digress—on to the market.

Fooling yourself is treacherous in the world of investing. Beware when you are certain the market is going to move one way or the other. Be careful if you are overly optimistic or pessimistic. The market never listens to you.  Too many market pundits are certain of their opinions and never change. Singing the same old lines isn’t necessarily best for your portfolio.

The song says you’re bound to change and so will the market. Investors can’t always stay the same. They have to be flexible and listen to the market. Daily, we can make an argument for either acceleration to the upside or collapse. Watch television, listen to the radio. We live in crazy times. Only the market’s response to events matters. Not yours, not mine.

Right now, market indicators are generally positive. We’ve just experienced new all time highs and apparently look to move higher. Negative news abounds, but inflation remains below 2% and interest rates are near historic lows. Another Fed rate cut is forecast. Don’t fight the market. Don’t fool yourself.

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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.