The Prudent Retiree - What's Going On Part XXXII

Life during wartime is a fitting metaphor for the social and political unrest in America today. It sure ain’t no party. 2020 has been an exhausting year. We started with an impeachment and acquittal of President Trump. Then came the Coronavirus, stay-at-home mandates and the economic shutdown and contraction. This resulted in massive unemployment and business closures. Then came social protests that are ongoing and have often resulted in riots and destruction of property. Add in ugly election campaigns and now a battle over a new Supreme Court Justice. The adversaries in these battles aren’t laying it down at the disco.

As investors, we should all give thanks to the Fed. Who knows what would have happened without their open-ended support for the economy and the markets? We don’t know when the pandemic will end. We don’t know who will be elected. We know the market will tell us what it’s going to do and the wise choice is to act accordingly.

Prudent Retiree believes that extreme volatility will be the market’s new normal. The rapid velocity of computer trading means we have to live with dramatic ups and downs. The Fed has stated that we will be living with interest rates anchored to zero through at least 2023. For those who need a chance at returns, the market remains the only game in town.

We believe you should maintain current allocations. Beware the talking heads and always listen to the market because this ain’t no fooling around.

That is what’s going on.

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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.
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