America the Beautiful

Alan Zendell,  December 24, 2018

Our Christmas present from the world of investing is that on the average, for every eight dollars we had invested at the beginning of 2018, we now have only seven. If you’ve been building a retirement account using investments keyed to the major stock indexes and your balance was $800,000 last New Years Day,  (not enough to support you for the rest of your life) it’s now $700,000.

Market indexes are never accurate measures of the state of the economy, but they’re what our president has been touting for two years. Savvy investors understand that the markets rose in 2017 on speculative hope that a nearly guaranteed tax cut law would inject a few more years of life into bull markets that were already long overdue to end.

That’s like looking at your pile of chips at the craps table knowing you’re already way ahead…

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