While COVID-19 did not create the e-commerce trend, it has accelerated the trend already in place for years.

“Prepare relentlessly”— 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.

A work-from-home environment has enabled some people to office anywhere with a phone and internet connection. Perhaps this has led more people to relocate or buy a second home.

On the 11th hour of the 11th day of the 11th month of 1918, World War I formally ended. A year later, Woodrow Wilson, who was president during all of WWI, which coincided with the Spanish Flu pandemic, issued this uplifting message on the first Armistice Day (later changed to Veterans Day).

Stock market volatility declined this week as prices broadly increased and are now on pace for the highest weekly price gain since April. This tells us that stock markets may broadly favor a divided government. There is less uncertainty as neither party can run too far in either direction.

“yeah...but” is the theme of the week.

Third-quarter economic growth (advance estimate of gross domestic product, GDP) released Thursday showed GDP increased at an annual rate of 33.1% during the third quarter. This was the best growth rate on record; however, this followed the second quarter which was among the worst on record.

At some point, government debt will need to be paid back. Methods for doing so are somewhat limited. Possible solutions; inflate (grow) our way out, spending reform, and tax reform. It is likely that a combination of methods may be deployed given debt levels.