PFA Updates
Choose Your Perspective
Oct 12, 2022
Hello, friends.
Well, our September TD Ameritrade statements are in the mail, and I can sum them up in one word: ugly! This was the stock market's worst September since 2002. [1] We have also sent quarterly performance reports to clients and the negative numbers are frustrating to read.
These last nine months (yes, it's only been nine months) are the longest downtrend in the markets since the 2008 recession. That's fourteen years ago, and many have forgotten how the markets can and do go down at times. But, and it's a big BUT, remember how the markets have always recovered and gone on to new record highs. [2] And since 2008, the recoveries have been much quicker than those before the Great Recession. [3]
Rather than bore you with my banter, I am sharing four articles that give, what we believe, is good perspective for long-term investors. Do take the time to read all four; they will hopefully make you feel better. Three of the articles are attached to this newsletter and the fourth article will be sent in a separate email.
Our Investment Committee is still looking for an entry point to reinvest the cash we set aside to reduce risk months ago. We are hopeful that time is coming sooner than later. Keep the faith, friends. This, too, will pass. Enjoy the articles, and feel free to reach out to us if you have any questions.
[1] www.forbes.com
Kind Regards,
Tom
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