“Nobody goes there anymore – it’s too crowded” …. Yogi Berra
“A happy person is too satisfied with the present to dwell too much on the future” … Albert Einstein
“If a presidential candidate ever emerged with just one platform position – the elimination of the twice-yearly time change – he/she would win in a landslide” … Darrell Kay
Where are we, at the end of October 2020?
Is anyone still going to the stock market? Or is it too crowded? The economy is doing well right now, the typical year-end rally is likely getting underway, corporate earnings are looking good and there are gobs of cash around (thank you, Federal Reserve??). The election outcome is confused but the market seems to be celebrating a split government – the thinking being that gridlock is generally a good thing. A correction, such as we have had since the Sept 2 high, can be a sort of cleansing purgatory for stock prices to work off certain excesses before resuming their journey. I don’t know the short-term winding and wending, but suffice to say, I see no evidence yet of a major bull market top.
Some of you have communicated your interest in my dividend portfolio, which focuses on reliable and diversified 8+% returns. I will be getting back to you. The objective is stability, even growth, of income.
Our funds and accounts did better, in general, than the averages. Most of you saw at most marginal declines.
How Did the Markets and our Funds Do in October 2020?