The Prudent Retiree - September 2021
Us Us Us and Them Them Them. Pink Floyd released this song in 1973 on their all-time best-selling album, Dark Side of the Moon. The song cynically spoke about social unrest and intractable conflict.
I was in New York last week. On Saturday, there were large gatherings to commemorate 9/11 and honor the victims and their families. Us and Them joined together. I was proud to be an American. As I grew up, we celebrated the idea of America as a melting pot. The idea was that people from many diverse cultures would blend into a common identity as an American. We celebrated differences, but joined together.
There is no American melting pot today. There are kinds of Americans. Us and Them. Intractable. This is not a judgement, just an observation. Pink Floyd sang, “who knows which is which and who is who? And in the end, it’s only round and round and round.” Kinds of Americans.
What does this have to do with the market? Our job is to manage your funds and provide the income you need. The times we live in are fraught with fear, anger and division. Us and Them. Media of all types and from all sides sensationalize. Bad news sells papers. When Them does something Us doesn’t like or Us does something Them doesn’t like, it is easy to believe the economy and markets will fall. That is a problem. The market is not Us or Them. The market is It.
In terms of your investments, all that matters is what It thinks. The song says, “after all we are only ordinary men.” Our current circumstances probably won’t change anytime soon. Don’t confuse portfolios with politics. Listen to It, not Us or Them. Maintain your current equity allocations.
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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.