Last week, two of the former leading companies in the cryptocurrency space, FTX, a crypto broker, and its affiliate Alameda Research, a crypto trading firm, filed for bankruptcy.
With the mid-term elections on November 8th, you may wonder if any action needs to be taken prior or in response to the results of which party wins the majority on Capitol Hill. The short answer is no.
Last Friday, the Wall Street Journal published an article by Jason Zweig titled You Don’t Know What You Don’t Know About Your Financial Advisor.
On August 16th, President Biden signed into law H.R. 5376, otherwise known as the Inflation Reduction Act. It is significant and complex legislation. In a nutshell, its changes will impact energy, health care, and tax policy for both consumers and corporations.1 Below, we try to break down these issues and what it could mean for you.
Meet Greg and Debbie. Over the years, this couple in their mid-fifties managed to save $3 million for their retirement. Their savings, combined with the full Social Security benefits they would receive when they turned 67, meant that Greg and Debbie’s retirement plan was relatively solid.
“…I think of as a mathematical equation…Threats x Vulnerabilities = Risk.”
― Stanley McChrystal, Retired United States Army General1
When markets drop, anxiety increases. It’s normal human behavior.
I’ve written before about how gut instincts and rapid reflexes – behavioral factors – can do you in as an otherwise sensible investor. The other day, I was reminded that, in other walks of life, those instincts aren’t such a bad idea. Like if you encounter a real, live rattlesnake.
I was chatting with a colleague recently who relayed the following story: a mutual friend who is retired had to cancel plans for a social get together. It seems the friend’s husband was frantic about something Jim Cramer had said about the financial markets on CNBC and was demanding an immediate meeting with their broker to adjust their portfolio.
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Markets Don’t Wait for Announcements
So let’s get to the punchline first: Markets don’t wait for announcements and smart investors should not focus on headlines.