2019 turned out to be a fantastic year in markets but it didn’t feel that way. Why was this the case? How about the US China trade war; the slowest global economic growth since the Great Recession; the never-ending saga known as Brexit; and a U.S. president facing impeachment and an election.
We came across a book recently called, I’m Right and You’re an Idiot, written by James Hoggan. It seemed like just another humorous title fighting for shelf space until we thought a bit more about its insights on the state of public discourse.
Despite having experienced strong market growth this year, we’ve had a fair number of emotional phone calls with investors who are worried about the possibility of a market crash because of Trump, trade, tariff’s, debt levels, social unrest, political unrest, recession and the list goes on.
We hope that everyone is taking the time to enjoy the summer! Within this blog post, we thought we would take a break from markets and the economy.
In reflecting back on the market downturn in December 2018, we can see that this last correction was no different. In fact, investors should expect a correction (a market downturn of greater than 10% but less than 20%) approximately every other year.
Often, when travelling, kids all around the world drive their parents crazy with the question, ARE WE THERE YET? Some might ask the question as the destination draws near, while others don’t reach the end of the driveway before blurting it out. Our point is that just because the question is being asked, doesn’t mean the destination is right around the corner.