The Prudent Retiree - What's Going on Part XXXVII

It’s November 4th. We’re almost done. No more commercials. Take down the signs. The results aren’t official, but the trend seems to indicate we’ll know soon.

Who doesn’t know The Who? They were one of the 60s and 70s leading supergroups and their music has lived on. The song, “Won’t Get Fooled Again” was written and recorded in the cauldron of social unrest and the Vietnam War. It resonated in a powerful way as an anthem for young people. I saw them perform the song when I was a senior in high school.

New boss same as the old boss? Who wins is not necessarily crucial to the market. When it comes to the market, the boss is Jerome Powell, the Chairman of the Federal Reserve. Fed policy has been the primary reason for this year’s market gains. Prudent Retiree has told you that interest rates would still be pegged at zero and monetary policy would be extraordinarily accommodative regardless of who won. We don’t know yet whether Mr. Trump or Mr. Biden will be the next President, but we do know the new market boss—Mr. Powell—the same as the old boss.

The Who sang, “smile and grin at the change all around.” For some that will be easy, for others very difficult. Our concern is the market and we see nothing that is alarming over the long term whatever the final result. We may experience some delays, recounts and litigation. We recommend maintaining current allocations. We’ll monitor events and outcomes and suggest change when appropriate.

That is what’s going on.

Here at Horseman Group, we strive to provide you with the highest possible level of customer service. Feel free to reach us at 314.692.7842 with any questions regarding your investments, risk management, or retirement. 

Should you wish to be removed from this mailing list for any reason, please respond to this email with your request, and your name will be removed immediately.

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.