Market Perspective 11/27

“Prepare Relentlessly”  

Thanksgiving is often a time for preparations, traditions, and predictability, whether it be sentimental gathering places, eating a meal together, or watching football and taking a nap. Perhaps you have your own favorite traditions that make Thanksgiving Day special.  

For many people, Thanksgiving 2020 will undoubtedly be different, as has much of 2020. As it relates to wealth management, change is often the only constant. Whether it be market cycles, investment strategies, tax policy, interest rates, or inflation, conditions are always changing.  

As a firm, we have five core values that we live by, one of which is, “prepare relentlessly”. This value, in part, means preparing for various possible outcomes and being adaptable to new conditions, knowing that changes may occur. As advocates for your success, we prepare relentlessly, ready to adjust to changes, freeing you from the need to so. 

We are thankful for the opportunity to work with you and hope you and your family have a safe and Happy Thanksgiving.  

Additional Comments: 

• Stock markets performed well this week with participation across most broad stock indices; during the holiday-shortened trading week, the U.S. stock market was up over 2% while international markets also produced strong results near 2% 

• President-elect Joe Biden plans to nominate Janet Yellen as the next U.S. Treasury Secretary; if confirmed, she will be the first woman to head the Treasury 

• Janet Yellen was previously Chair of the Federal Reserve under the Obama administration 

• In what historically has been a busy travel week, TSA checkpoint travel numbers show airline travel down about 60% from a year ago (source: tsa.gov) 

• Big tradition - the National Turkey Federation (NTF) estimates that 46 million turkeys are eaten at Thanksgiving 

• 95% of Americans surveyed by the NTF stated they eat turkey on Thanksgiving 

V20330736