The Prudent Retiree - June 29, 2022

Instigators are out in force across the country. It seems as though everyone is unhappy with something. Grievance is our new mantra and people take to the streets to protest whatever makes them unhappy. Sadly, these protests often turn violent and mass shootings are all too common. If you’re not on my side, woe to you.

Something was in the air in 1969 when this song was released. Social unrest and anti-war protests were the norm. Burn baby Burn. Today’s news makes it seem little has changed in the past fifty years. Violence is still too often the answer. What happened to people of good will with differing views striking a compromise?

Thunderclap Newman was the quintessential one hit wonder. The band was the idea of Peter Townsend of The Who and he recorded with them under a pseudonym. They recorded an album, played a few shows and that was it. “Something in the Air” was a hit because it spoke to the temper of the times.

What’s in the air with the market? Unfortunately, the instigators of market direction have been to the downside this year. Inflation, higher interest rates, shortages of goods and workers, Covid and Ukraine have put a damper on stock prices. There are no quick and easy fixes to these problems. We could very well be headed for a recession. Has the market’s decline priced that in or will it move significantly lower? No one knows and that is why our current allocation for qualified accounts is 50% equity and 50% cash. That has served us well in this downturn.

Thunderclap Newman sang, “Lock up the streets and houses” and “Hand out the arms and ammo.” They wanted a revolution. Many want one today. Lock her up, Let’s go Brandon, Impeach! are a few of today’s incendiary slogans.  Prudent Retiree is against violence, period. We do favor taking action to protect portfolios against risk and we will make further changes as the market dictates. As always, don’t confuse politics with portfolios. Listen to the market.

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Horseman Group – 3 CityPlace Drive - Suite 290 – St. Louis, MO 63141 – 314.692.7842 – www.horsemangroup.com

Advisory Services offered through Horseman Group. Securities offered through AW Securities, a registered Broker/Dealer, member FINRA/SIPC.