By L Todd Wood | January 27, 2020
There is an old saying on Wall Street — make sure you choose an advisor who’s been through a few corrections.
This is wise advice.
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The markets are leading indicators for future activity; however, they can’t go one way forever. This is the correction you’ve been waiting for, a black swan that came out of nowhere, like they usually do.
This is healthy, very healthy.
The markets have been telling us that the Trump economy will keep roaring, that American trade policy has been rationalized for the better, that American power has been recovered economically and militarily, that more tax cuts are coming, that deregulation will continue. In short, the fundamentals for the economy are strong.
So, my point is, nothing has changed fundamentally for the economic long-run. Trump won’t be thrown out of office, and Epstein didn’t kill himself. The Durham Mack truck is still coming for the traitors in our midst. There will be a second term.
In short, the future looks bright.
But what about the virus you say? I am not a doctor but I have spoken to many recently. They say the threat is serious but manageable. Supportive care in the West is much better than in China. People will get sick but there have been no deaths in America…yet.
We could be on the verge of another Black Death, but I think not.
I think this a good-ole, garden variety, very healthy correction.
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Talk to your financial advisor first (one that has been through a few corrections) for your own investment advice, but I’m positive and I think this is an opportunity to pick up those positions you’ve long been wanting to own at a better price.
This is not investment advice; talk to your advisor before making any decisions for your portfolio.
This piece originally appeared on CreativeDestructionMedia.com and is used by permission.
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of Steve Gruber.