It is understandable why clients may be feeling uneasy with the prospects of their portfolio given the level of unproductive rhetoric coming out of Washington in recent days. Today, I have watched both the President and the House leaders hold press conferences which seem to do little to move toward any real resolution of this impasse. Even so, I am inclined to ride this one out, as I believe there will be a resolution, likely followed by a favorable market reaction. Sometime the hardest thing for investors to do is … nothing. Although we are not opposed to making tactical moves, the best course of action right now seems likely to be to remain invested while waiting for cooler heads to prevail and markets to rebound. Better still, for those with cash, market declines may even represent a buying opportunity.
Bottom line, I am inclined to believe that although there may continue to be anxiety in the markets until these problems are resolved, at present it seems entirely likely that a resolution to the needed increase to the debt ceiling will be achieved. Never before has there not been an increase in the debt ceiling. I recognize and promote importance of getting a better handle on our nation’s overspending for the long-term health of our country, but it seems extremely unlikely that another increase will not occur soon. Although this may happen at the 11th hour … or even later, what seems most likely is that there will be some manner of short-term resolution to push the debt ceiling higher while both sides negotiate further in order to come to some more long-term negotiated resolution prior to the year’s end.Read More
A stream of strong earnings reports helped the Dow industrials end their fifth straight week of gains by closing above 14,000 for the first time since 2007. The Nasdaq’s best week since the first of the year helped it close the gap with the other domestic indices, while the small-cap Russell 2000 continued to lead the pack.Read More
It’s the Last “Something More with Chris Boyd” show of 2012!! In the first hour, Chris discusses year end planning considerations for your portfolio. He also talks about the fiscal cliff, the debt ceiling, the market conditions currently and for the year in review. Mike Burton of Slade Mortgage Group phones in with his regular segment of the Slade Mortgage Minute. In the second hour of the show, Chris welcomes back personal coach Pam Wills. She talks about goal setting for the new year, whether those goals be personal, financial, or work -related.Read More