The Prudent Retree - What's Going On Part XXXIX

2020 has been a year like no other. Impeachment, Covid-19, social unrest, protests and riots, confronting ongoing racism and a bitterly contested Presidential election have left America reeling. We are still standing, though. Our democracy is messy, but it gets the job done. We are the most prosperous nation in the world, we help those in need and there will be a peaceful transfer of power from one President to the next. People are flawed and we experience mistakes and tragedies, but where else would you rather be? We were free to vote and did so in record numbers. Churchill saw and knew that in spite of its flaws, democracy was far and away preferable to any other forms of government.

A free market is one of the benefits of democracy. We can invest and hopefully profit. 2020 has been a good year for the market in spite of all the uncertainty. Currently, we are at 50% of normal equity exposure. The market has digested the election and is responding favorably to the outcome. The positive news on potential vaccines also bodes well for stock prices.

Right now we believe the potential unknown of Covid-19 spread is the biggest risk to the economy and the market. We are also concerned about January’s run-off elections in Georgia. The results will determine which party controls the Senate. We are rooting for divided government. Prudent Retiree is looking for an opportune point to increase equity exposure.

“If you’re going through hell, keep going.” Those words are attributed to Mr. Churchill. We’re not sure if he said them, but the message is spot on and we believe our only course as we work through our current challenges. Safely enjoy a blessed Thanksgiving with family and friends.

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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.

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