Will September Be Another August?
It’s Thursday morning and the futures are pointing positive for the market open. So far, the markets are down about 1% this week while the Dow is off 8.2% and the S&P 500 is off 5.4%, year-to-date. Some fun!
I often talk about the markets in terms of roller coasters, but honestly, I’d prefer to be on the Total Mayhem! At Six Flags Great Adventure than in the market this past month. If you’re smart, you just don’t look at your portfolio or track the market each day, since there’s nothing you can do about the ups and downs other than drive yourself crazy.
Several friends have asked me how bad the phones have been ringing off the hook in the past few weeks. I tell them that, of over 300 clients in the market, I’ve heard from less than 10%. Only two clients went to cash and while a few others are contemplating, they haven’t acted yet. The rest… I suppose are long-term investors or they’re just not following the markets.
What will September and October bring? As you can see from last weekend’s cover of Barron’s Magazine… who knows? There are so many forces impacting the markets at any given time that it’s anybody’s guess where the markets will go in the next few months.
My advice… forget the markets and the economy – and maybe even presidential politics – and enjoy the Labor Day Weekend. That’s what my plan is since, before you know it, the leaves will be turning colors.
Enjoy the long holiday weekend…