Financial Markets

[danrnsmyth]

If financial advisors could predict the markets there would be a lot more people retired and fishing. This year has been difficult to understand much less predict and since there is so much unknown it is not a bad time to review your positions and talk with an advisor and determine if you need to salt away any of that bacon. Nasdaq is up over 40% year to date, which is a bit abnormal, and who knows if that can continue and with interest rates being near zero the traditional move to take some funds into bonds and or cd's or fixed income instruments is not very appealing. Further make sure of any tax implications before doing anything, but there is nothing wrong with having some cash positions for short term ...If you are heavily invested .</p>

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I am not predicting a correction because I don't have a clue, and there is a chance that as people go back to work and unemployment goes down and vaccines help to normalize the consumer spending (and with interest rates being near zero) that the stock market will be the only game in town and IF energy and financial and health care companies participate it could be a good year. But having some cash certainly makes it easier to ride out the unknown when things get scary and can help to avoid the panicked sell of positions when it is the most inopportune time to do so..</p>

I hope to meet more of you guys starting about April, as that is the month I hang it up..hope you all have a safe and blessed Christmas</p>