The Prudent Retiree - What's Going On Part XXVII

No one is coming out to the ballpark this summer unless you count cardboard cutouts and team mascots. Prudent Retiree likes to trot the great Yogi out on the field every baseball season. What would the master of malapropism have to say about our current situation? The Hall of Fame catcher from the Hill in St. Louis who played in more World Series Championships than anyone in history would surely leave us scratching our heads in wonder.

People do want to come to the stock market. They are paying to invest and the market is responding. The Nasdaq Index dominated by large technology companies is at an all time high. The S&P 500 and the Dow Jones Industrial Average are nearly at new highs. The market is like a ball team on a hot streak right now. Momentum is driving prices higher. The market is climbing a wall of worry as it often has in the past. If people want to keep buying, nobody is going to stop them.

Prudent Retiree knows that many of you are concerned. You are worried that the market can’t go higher because of the economy, COVID-19 and the upcoming election. You are wondering if it’s time to get out. We share your concerns and continuously evaluate the risks we are facing. Right now, the market is telling us they are manageable. Low interest rates, negligible inflation and powerful action from the Fed are supportive of stock prices. Given a choice, we always favor the market today over what might happen tomorrow. Remember, Yogi also said, “It ain’t over till it’s over.”

We encourage you to stay invested and maintain current allocations. Sadly, no peanuts or cracker jacks, but no argument here with higher stock prices.

That is what’s going on.

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Horseman Group – 3 CityPlace Drive - Suite 290 – St. Louis, MO 63141 – 314.692.7842 – www.horsemangroup.com

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