A long time friend many years ago told me ….
“John, never go out on Fourth of July and New Years, that’s when the Amateur’s are out!”
But for 1999- 2000 New Year – we have mostly adhered to this, as it really is a true statement.
Wall Street Unwritten Agreement
With a general agreement across Wall Street to let everyone enjoy their family time – markets are historically sleepy with adherence to this unwritten rule.
Recent volatility around this sacred time let’s us know it is “Amateur Hour” currently- as weak hands are releasing assets.
Every investment we make as a firm is with this type of volatility in mind – while we do not like it, we are aware that it can occur.
Assets are being returned to their rightful owners and presenting opportunity’s for the steady handed.
We would not be surprised to see an extreme rally as the weak hands fade away. If not, we will know Amateur Hour is continuing –
Shortly, an early flight awaits the family as a multi-day tennis tournament in a warmer, dryer, state followed by family time into the new year…..
Oddly, our slightly rushed computer replacements will give us complete, clearer, and faster vision remotely –
Rest assured we are watching and will be opportunistic when appropriate!
Have a Great “We are Prepared” Day!
John A. Kvale CFA, CFP