Last week Jean & I traveled to Memphis to celebrate one of our granddaughter’s graduation from high school, the class of 2020. Tennessee is a little farther ahead with it’s phased in relaxation of the Covid-19 restrictions, but the actual graduation ceremony was a drive-through process with very little social interaction. It was different to say the least. Unfortunately, that event and some positive economic news was dwarfed by the brutal killing of George Floyd and the resultant rioting all across the country.

The positive news is that the country is slowly coming back to life economically with the US equity markets leading the way. Remember, equity markets are forward looking and usually bottom out on average, 107 days before any recession is believed to be over. That would get us to the end of June.

With each passing stage of this current crisis, the prophets come out in droves trying to predict what the future may look like and the attached article is no exception. I thought that, of the multitude of articles forecasting the future, this one was one of the most balanced.

As I have said over the last few weeks, life will be different as we move forward. However, it is very important to keep our long-term goals in mind and investing in equities must have a long-term perspective. While I make no predictions of what stocks may do in the near term, in the long-term, equities have provided a solid hedge against inflation.

As always, should you have any questions or wish to talk, please don’t hesitate to email, or call me. Now, as I told our high school graduated, let’s all go out and make every new day our best new day.

Doug Alden

Link to article…

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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.

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