The Prudent Retiree - April 8, 2021

Can you imagine those on the left and those on the right tackling an issue together? That would be groovy. Dream on. It seems there was more civility and partisanship back in the good old days of 1968 when Friend & Lover had their top 10 hit. 1968 was a year of violence and crisis in America. Civil Rights unrest, urban violence, the Vietnam War and protests, the drug culture, generational conflict, college shutdowns, assassinations and Republicans and Democrats at each other’s throats. It has always been as it is now. People rarely get together. It just seems worse because we are smothered by media. Never give an inch is the order of the day.

The song goes, “I knew a man that I did not care for and then one day this man gave me a call. We sat and talked about things on our mind and now this man he is a friend of mine.” There is always hope and perhaps our elected officials and activists will stop the invective and find a path to compromise in a way that works for everyone.

We do not have to reach out of any market darkness. The market is clear and indicating it will probably continue to move higher. The Dow and S&P 500 just made new highs again. Fed policy, low interest rates, Covid-19 vaccines, the coming stimulus and the economic reopening all support the market. Our risk management model is positive and Prudent Retiree believes your equity allocations should be fully invested. We continuously monitor potential risk and will keep you informed. Investors must be willing to accept volatility and occasional bad news and rough patches. The market right now is groovy and counting on positive factors getting together.

Oh, there was also a pandemic in 1968. More than 250,000 Americans died on a population adjusted basis. The market? It moved 7.66% higher in 1968.

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