A woman hears from her doctor that she only has 6 months to live. The doctor advises her to marry an economist. The woman asks, “Will this make me live longer?” The doctor answers, “No. But it will seem longer”.- unknown
Where are we, at the end of September 2019 and YTD?
Sorry for the economist joke. Last one. With all the talk about recessions and whether the economy is healthy and getting stronger OR weakening and forecasting a sell off, I couldn’t fight it.
Sorry also for the late date on this newsletter. All last week I was fighting a virus which became a small patch of viral pneumonia. But I’m all cured and healthy now, thank you………
The markets have had a “wishy-washy” September, which is historically the weakest month of the year – with October not far behind. We are rebounding right now, as I write, but even here, the demand is not huge. However, as stated before, I don’t see the sky falling yet, and no particular reason to expect it to fall. So, until further notice, I plan to stay invested.
Note on fund performance: a couple of our funds had noticeably bad months in September. Fidelity Blue Chip (FBGRX) is the most noteworthy. This has to do with several specific holdings, which the fund managers are sorting out. Notice the YTD out-performance and realize that these ups and downs are part of the game. I look for OVERALL out-performance, which should balance out in our favor – and it has. Just study the YTD column.
Note on Broadstone: the is the high performing REIT I have discussed with many of you, that is going public in Q4. This is still on track for Q4.
How Did the Markets and our Funds Do in September 2019 and YTD?
Your investment return(s) for September 2019 and YTD was/were as follows:
We should talk if you would like to review exactly where you stand or if we should consider a change. I am available at your convenience. I have Skype video in case you would like to do a video conference.