Page 11 - Leisure Living

Is It The Summer Doldrums For Investors?
By Christopher McIntire, President, McIntire Retirement Services www.mcintireretirementservices.com
Hello folks! Now that it has quit raining I cer- tainly hope everyone has enjoyed the fine weather of July and so far into August. Our stock and bond markets have been as wild as the weather this sum- mer and just when it appears as if we’re headed higher...we go back down again.
We’ve seen oil sell off again recently as supply has outpaced demand; we’ve had another round of trouble from Greece (sound familiar) and their fi- nancial struggles to get their spending under con- trol and the Federal Reserve continues to ponder when to begin to raise the interest rates. All of this and more has led to a familiar summer pullback in the markets (both stock and bond).
It has been a challenge for investors to make some gains so far in 2015 as the market hits a new high only to fall back. It has tried this over and over in 2015 with no real breakthroughs or con- tinued positive trends. Last year we had a lot of the same type of behavior with the S&P 500 actually negative for 2014 in October, only to stage the fa- miliar rally that happens more often than not in the fourth quarter.
There is an old saying on Wall Street; “Sell in May and go away, buy it back around Turkey Day”...if you get some time take a deeper look at this phenomenon with respect to the performance of the equity markets. It may surprise how much better the equity markets perform in the first and fourth quarters using a long term perspective. Markets can be unpredictable and sometimes the
older a rally gets the more volatile the behavior and it doesn’t always deliver what investors want.
Do yourself a favor and look at the 2015 Dalbar Study of Investor Behavior (Google it of course) and it may help to keep things in a perspective for you. Bond guru Jeffrey Gundlach has been quoted is stating that investors get 80% of the growth in 20% of the cycle.
There I go again with another cliché, the 80/20 rule...well here’s to the Santa Claus rally!
Thanks for reading and enjoy the rest of your summer...
Investment advice is offered by Horter Investment Management, LLC, a Registered Investment Adviser. Insurance and annuity products are sold sepa- rately through McIntire Retirement Services, LLC. Securities transactions for Horter Investment Management clients are placed through Pershing Advisor Solutions, Trust Company of America, Jefferson National Monument Advisor, Fidelity, Security Benefit Life, FC Stone and Wells Fargo Bank, N.A.
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