The Prudent Retiree - What's Going On Part XXI

The market just experienced the best quarter it’s had in more than thirty years. “Now you may ask yourself, well, how did we get here?” The answer is the Federal Reserve. COVID-19 is still with us, the economy has opened only haltingly, social unrest is all about and political people are hurling invective and insults in every direction.

The question of how did we get here is slightly paraphrased from a song by the Talking Heads. The Heads are a Hall of Fame band whose greatest success came in the late 70s and 80s. They were early stars of MTV. I visited a friend in New York in 1978 and saw them at Your Father’s Mustache in Rosslyn Village on Long Island. The music was great, their fans were devoted and I loved the show. After my return home, I couldn’t wait to tell everyone about this amazing group they would soon be hearing. The beginning of my career making predictions.

The extraordinary first six months of 2020 are hopefully something we will only see once in a lifetime. We are positive on the market and encourage you to maintain current equity allocations in spite of seemingly never ending bad news. Remember not to confuse portfolios with politics. The supportive actions of the Fed are behind this strong market. We don’t fight the Fed. “That is the same as it ever was. Same as it ever was. Same as it ever was.”

Please enjoy your 4th of July holiday. By the way, my twenty-eight-year old daughter now owns my Talking Heads’ albums. Same as it ever was.

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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.