Happy New Year!
This was certainly a year we’re happy to see in the rear-view mirror. While we know we have a bit of the old year’s business still to work through we’re looking forward to a more cheerful wrap up 12 months hence.
As we write this, we are still in the middle of the pandemic albeit one with a way forward as the vaccine administration gets underway. Somewhere between now and mid-year we’ll hopefully have enough folks vaccinated to start to see measurable progress in containing the virus and a consequent loosening of the many parts of the economy that have been held hostage.
As surprising as the reach and scope of the economic pain from the pandemic has been the market reaction. A sharp selloff in the spring turned into a robust rebound in share prices as investors lifted their attention from the all too grim present and began to concentrate on the shape of the future
If there was ever a compelling set of events to use as caution against trying to time the market this year provided just that. Folks that tried to sell on the way down were confounded by the sheer velocity of the downturn and those that sold in March missed an awful lot of gains before events would lead them to feel comfortable enough to re-enter the market.
As is our tradition for this time of year, we will take a couple of pages to give you a blow-by-blow of the major asset classes in your portfolio; what they have done, what we anticipate going forward, and how we have approached each. Whether you are a long-time client or a recent addition to our extended client family, we hope you will find this helpful….