We are beginning our Monday morning with lots of “red” on the board following last Friday’s big sell-off.
As your Fiduciary Registered Investment Advisors (RIA), we feel your pain and the pain of all our clients. The markets are looking for a bottom and are just waiting for some good news to begin the arduous climb upwards.
Bitcoin has led the downward march and is now down by -62% since its’ high.
The NASDAQ 100 (primarily technology companies) is now down by -31% since its’ high.
The Russell 1000 Growth Index is now down by -30% since its’ high.
The two shining stars in portfolios are commodity investments and energy. Oil is historically high and virtually every commodity we are purchasing now costs more.
As painful as it is to be a current investor, we still believe that the long-term for investments is positive, as has always been the case. Today represents as good of a buying opportunity as ever.
American Technology will bounce back. We will continue to use Visa, Mastercard, Venmo, and Paypal. We will continue to purchase goods from Amazon and other e-commerce companies more and more every year. We will find jobs that improve our quality of living and purchase more goods and services in the future.
So, I remain optimistic and cautious.
We have strategically positioned portfolios for the long-term and are carefully making changes to take advantage of the tactical current opportunities.
We look forward to hearing from you.
Let’s set up a Zoom meeting to review what you have and find new opportunities available for you in this Bear Market.
All my best,
Elliot Kallen
925-314-8503
Elliot@ProsperityFinancialGroup.com
