A couple of nights after the Presidential election of 2016, Jean & I were at a special wine tasting dinner in Asheville. We were setting at a table with 2 other couples, both from a local law firm. You could tell by their conversation they were not to happy with the results. One person said, “Well, I hope we can just get along”. I said the honeymoon might last 2 weeks. I grossly overestimated.
So, now that the impeachment of President Donald Trump is over with a total acquittal, what might come next? I’ve attached an article about the fact that 60% of Americans say they’re better off financially. It’s a positive article and I hope you read it.
I am also attaching a link from the Spectator publication that I found very uplifting. It’s titled We’ve just had the best decade in human history. Seriously Matt Ridley writes about the improvements made across the globe and I think you’ll be surprised. His sub headline “Little of this made the news, because good news is no news” is so right on! I hope I’ve inserted the link correctly and I hope you take the time to click on it. We still have 8+ months of a presidential election campaign to live through and you’re going to hear a lot of about how bad things are. I plan on keeping this article handy along with a lot of Maalox.
A comment about last year. 2019 was an extraordinary phenomenon that may happen once every decade or 2. The obvious conclusion is that it’s not going to happen again this year. I do want to remind you that the average drawdown in the S&P 500 has, since 1980, been 13.8%, and that despite this, the price-only return of the index has been positive in 30 of those 40 years. Corrections are quite common. Neither I nor anyone else can forecast much less time them. And, they are irrelevant to our long-term investing policy. Should you wish to discuss this with me, you can call or email so that we can arrange a time to meet, either by phone or in person.
Now, as we wait for the next “Sky is falling” crisis, I hope you have a super week. I will be out of town this week but always available by phone or email.
PS: This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.