Remember, the only choice is optimism, the pessimists never get it right.
As I was growing up, my family made a car trip to visit an aunt & uncle along with 2 of my favorite cousins. We usually came back late at night, and we able to listen to a detective program on the radio that I believe was called "The Shadow".
The opening went something like this, "What evil out there lurks among us? Only The Shadow knows. Every time I get a news update from Washington, I'm reminded of that show's tag line. Who knows what might come out of Washington?
The democrats are trying to spend a lot of money and they're floating a lot of tax policy ideas and other combinations of the contents of any bill in hopes that something might stick. So, the question becomes, "Deal or no deal? Unfortunately, there's no shadow out there to tell us so I won't try to guess.
Equity markets ended October hitting new heights with earnings fueling this rally. Economic activity remains strong and interest rates, while raising, remain modestly low. The dividend yield on the S&P 500 is around 1.38% while the 10-year treasury bond yield is at 1.61%. I will gladly give up 23 basis points to stay away from the fiscal madness that is going on in Washington.
Something to watch that might possibly give us an idea moving forward is the November 2nd election for the governor of Virginia. Virginia has been a reliably democratic state with no republican holding a statewide office, but the challenger Glenn Youngkin is said to be leading in the polls. I will certainly be watching.
There isn't a day that goes by that I don't receive at least 2-3 phishing emails that offer all kinds of riches if I (you know) just click here. So, I thought the attached article, 4 Common Elder Scams, is timely.
As we head into November and the end of the year, should you have any questions or wish to meet with or talk with me, please don't hesitate to email, or call.