Equity markets were up again last week. The S&P closing over 2870, the Dow nearing 27,000, and the IRS tells us the check is in the mail. Impressive indeed. The reasons why have been thoroughly rehearsed and duly noted by more pundits than I care to mention.
However, I do like what market commentator Howard Barlow had to say:
“…markets often rise because they are not declining, (the derivative of the wall of worry) and due to performance derby by long-only managers, and FOMO (Fear of Missing Out) by some at the retail level.”
Rational thinking has long left the party when emotions are used to describe market behavior. How long it continues is anyone’s guess but trying to time the markets usually ends in pain, if not for you then certainly for the client. Most “timers” never stay in long enough and are often late getting back in. They usually miss a significant part of the alpha. I’m betting that when this cycle ends those investors with a disciplined, grounded, and diversified methodology will be the ones sleeping easy at night.
SCI HIGHLIGHTS
Riskalyze Risk Re-assessment
How often should you reassess risk?
Explore the issue of risk assessment frequency in Mike McDaniel’s article, and learn some best practices to help you monitor investor Risk Numbers:
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