Market Update
Stocks in Free Fall Last week I mentioned that market action was suggesting high odds of the market heading lower – Click here to view last weeks newsletter. The market did fall last week and I believe that the odds still favor more stock market declines.
If you have accounts that are managed using a buy-and-hold approach, now would be the time to consider changing to an active money management strategy. I feel that we could be heading into a protracted period of continued market decline or even a bear market. Using a buy-and-hold strategy during this type of market will usually mean loosing substantial portions of your retirement accounts. If you need assistance in evaluating your retirement accounts, please feel free to contact me.
Client Update
Currently, we have most client accounts invested primarily in money market funds. Money market funds are safe investments that do not fluctuate in price and are a good place to park our money while we wait for stock and bond market conditions to improve.