The Prudent Retiree - July 2021

Fifty years ago, Joni Mitchell released her seminal album, Blue. She was arguably the finest singer/songwriter of her generation. The album and the song “California” were both chart topping hits. She lamented that all the news was bad. She must feel a sense of déjà vu today.

Fifty years later, it seems like all the news still is bad. Think about that. I just finished meeting with a client who brought up all the negative issues the country is facing. He is thrilled with performance, but baffled about the markets. How do they keep going up? My answer was simple—The Fed. For investors, all that matters is how the market reads the news. The Fed continues to be highly accommodating to the economy and the bond and the stock markets. That is what counts. The opinions that bombard us just aren’t important. Perhaps interesting, but not important.

Ms. Mitchell sang that, “All the news gives you the blues.” Too often that is true, but our feelings don’t move the market. There will, of course, be disconcerting news and the market will experience periodic corrections. That is part and parcel of investing. We are always considering the risks and we evaluate market metrics continuously. Prudent Retiree listens to the market and the market is clearly telling us to maintain current equity allocations.

Know that the market will turn at some point. The market, not the pundits or talking heads, will tell us when that time is at hand. We will listen and respond to the market. Predicting consequences and the future is a tough game to win. Joni Mitchell’s Blue sounds just as beautiful today as it did fifty years ago. Take a listen.

Here at Horseman Group, we strive to provide you with the highest possible level of customer service. Feel free to reach us at 314.692.7842 with any questions regarding your investments, risk management, or retirement.

Should you wish to be removed from this mailing list for any reason, please respond to this email with your request, and your name will be removed immediately.

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.

A market index is unmanaged and may not be invested directly.