The Prudent Retiree - What's Going On Part XXX

I relax by reading crime fiction. My favorite author is James Lee Burke who writes a series about Detective Dave Robicheaux that takes place primarily in New Iberia, La.

I’m currently reading the book, Creole Bell. When discussing the presence of evil in the world, a frustrated Robicheaux said, “We know almost nothing and understand even less.” His statement caused me to think about the recent volatility of the stock market.

Why did Apple decline by 20%, Amazon 11% and Tesla more than 30% in a week? Are these suddenly lousy companies? Were investors wrong last week or this week? Hopefully, we know more than nothing, but the extreme volatility is hard to understand.

We are concerned, but still believe you should maintain your current allocations. We have been warning about a 5-10% correction for some time. Perhaps the market is having that correction now. This is understandable given the unprecedented increase since March.

There is truly much about the market that we don’t understand. We do know, though, that if you listen to the market, history shows you will be successful. What we are hearing now is an expected pull back during an ongoing uptrend. There is always the possibility this results in a more sustained downturn. We will continue to monitor the risk and let you know when change is warranted.

Prudent Retiree welcomes Dexter Lamb to Horseman Group. Dexter joins us as a financial advisor from Morgan Stanley. He specialized there in financial planning and will bring that valuable experience to help our clients. He is married to a beautiful, smart woman, Mackenzie and is the father of three of my grandsons. Please welcome Dexter when he calls.

That is what’s going on.

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