Hi, everybody. It has been a busy week. Even though the market continues to drop, frankly I don’t have much to say that I haven’t already said. So, this will be a very short post!
News
Are Market Declines Setting the Stage for Future Growth?
When we look at yesterday’s market performance, something stands out. It’s not just the magnitude of the decline, bad though it was, but the speed. And it wasn’t just yesterday, as this past month has seen pretty much all of the decline for the past quarter and well over half of the decline for the year. In other words, the market has essentially been down all year. It started to stabilize in March and April—only to collapse again in May. That’s scary.
A Quick Look at the Markets
This will be a short post as I am back from a Commonwealth conference and catching up. There are lots of things to think about, on both a professional and personal level, and I will share more going forward. As always, it was great to see my Commonwealth friends, old and new, and do some really cool stuff including a cooking class (didn’t see that coming, did you?) and a Red Sox game with Tim Wakefield, who very nicely signed a hat for my wife. She did very well out of the conference, with the hat and a signed pastry cookbook. You have to take care of the home front.
Challenging Our Assumptions
Today, I’m attending the Commonwealth Chairman’s Retreat conference. Of course, we’ll spend some time discussing business and the markets, but we’ll also get the chance to look at issues beyond that and into our own lives. Longtime readers may remember my column on gratitudes, where I talked about a Chairman’s presentation by psychologist Shawn Achor on how simply writing down three gratitudes a day could change your life for the better. I tried it, and it worked. I have now written down my gratitudes every day for several years, and there is no doubt it has made a very positive difference.
Monday Update: Inflation Slowed in April
All eyes were on last week’s release of the consumer and producer inflation reports for April. They showed that inflationary pressure moderated during the month following a surge in March, but there is still a lot of work to be done to get rising prices under control. This will be a busy week of economic updates, with reports scheduled that will cover retail sales, industrial production, and the housing sector.
What Can Investors Do in a Down Market?
Much of the discussion around the market decline so far this year has been, first, why is it happening and, second, how far will it go? Most people are looking at the market as an independent entity, trying to second-guess how it will act in the future. Most people will, inevitably, be wrong.
Alec joined Riverstone after starting out his post college career on the operations side of an international logistics company working as an account executive. Graduating with a BA in Economics from the University of Illinois at Urbana-Champaign, he quickly developed a strong interest in the financial world. A lifetime resident of the Chicagoland area, Alec is an avid fan of his hometown sports teams. He is also an enthusiast of outdoor activities like fishing, camping, and hiking whenever possible.
Riley has enjoyed working in the financial services industry for the last 7 years. Originally starting in the industry as an assistant, then a registered branch operations manager, and now as a wealth advisor assistant. He has been through numerous business changes and understands the impact that clarity and honest advice can have for clients. Riley enjoys getting to know clients and hearing their stories. He enjoys the financial planning process and the impact that sound financial decisions can have on one’s life. He also understands the importance of those who choose to entrust him to be a steward of their financial resources and does not take the responsibility lightly.
Carol has a wide variety of experiences and has worked mainly with not-for-profit organizations. She spent 20 years in fundraising and 15 years teaching in the Illinois school system while she raised her younger children. Carol lives in Sugar Grove with her husband, Ron, and their Golden Retriever, Charley. She has four children and two grandchildren. When she’s not working, Carol enjoys spending time with friends and family, running, fishing, bible study, and watching her grandchildren play sports.
Sue joined Riverstone Wealth Partners in October 2021. In her role, she partners with our advisors to build strong client relationships and develop retirement strategies to help clients realize their long-term financial goals. Sue earned her BS in Finance from Indiana University’s Kelley School of Business, while a member of the IU Women’s Golf Team. Prior to Riverstone, she held the roles of Financial Advisor with Morgan Stanley in Chicago and National Sales Director at Aquascape, Inc. in St. Charles.
Wealth Advisor
Wealth Advisor / Registered Principal
Wealth Advisor
Wealth Advisor / Registered Principal
Wealth Advisor
Wealth Advisor Assistant
Registered Relationship Assistant
Office Manager
Client Relationship Specialist
Administrative Assistant
Director of Operations