Good morning & happy Monday!
Optimism often sounds like a sales pitch, pessimism sounds like someone trying to help you.
Morgan Housel, author
As we enter the last month of a very challenging year, I want to say a huge thank you!
Thank you for trusting us as your financial planning team.
Thank you for trusting me as I kept saying something along the lines of “stay the course” all throughout the year.
I know it has not been easy, but I am pleased to report that progress is being made.
In November the S&P 500 gained 6.02%, which is on top of October’s 7.99% gain. The S&P 500 is still down 13.10% year-to-date through November 30th (see attached charts), but I thought maybe some good news would be welcome as we are now in the last month of this year. 😊
The market seems to be celebrating some signs that inflation may be easing and that the Federal Reserve may also be not as aggressive with interest rate increases going forward.
Things do not have to be amazing for the stock market to advance, the stock market is looking for direction. It does not have to be blue skies, it has to be just a tad bit less cloudy than it was before.
Through all of this, there is one overriding theme: patience. Patience is required to be a successful investor.
I don’t know about you, but I really struggle in the patience department. In preparation for this memo I asked my wife “who is the most impatient person you know?” Her response after thinking about it for a bit: “You!” Ouch!
We’ve all heard that patience is a virtue, well I’m here to also state that patience is a necessity for investors. I wish it weren’t so, and I hate it myself … but to quote Jim Carey in the movie Bruce Almighty “that’s just how the cookie crumbles.” 😉
I would encourage all of us to use this year as an opportunity to learn the lesson (even reluctantly) that patience pays off as investors.
Thank you for being patient with your investment strategy. I am beyond thrilled with how my clients have stayed patient during this challenging year. I fully believe that your patience will pay off.
As we approach the busy Christmas season and the close of this year please do not hesitate to reach out with any questions or ways we can be of assistance.
It is a tremendous honor to serve you!