The recent declines in equity markets have been attributed to rising interest rates by many pundits and our media in general. We believe, however, that there may a different culprit: uncertainty. The midterm elections coming in early November have cast a lot of uncertainty regarding hundreds of seats in Congress. Will there be a shift in power and policy? We don’t think markets care who wins these elections so much as just knowing who wins so business can make plans and proceed. Indeed, the equity markets have often fared well in the year following the midterm elections. Of course, past performance is no guarantee of future results, but we view this as a “normal” pattern.
Our last Lunch and Learn is October 23rd so if you have never attended this is your last chance. Thanks to everyone who has joined us the last few years at the Gaslight Music Hall and then the Oro Valley Country Club.
It’s hard to believe but the holiday season is upon us. Christmas decorations have been up in stores for weeks now. Please save the date December 9th for our annual Client Appreciation Event at the historic Arizona Inn at 2200 E. Elm Street. We will have brunch and music by Rob and the Wildcats.
As always, thank you for your business and referrals.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.