So far the market continues to push further. What goes up, must come down … but not right away. Looking at our January Commentary, we thought the stock market might run, but now our concern is that this is happening much faster than expected and than underlying economic fundamentals seem to justify. The markets seem to care less and less about risk, which is the time that risk is probably building more and more. This current market will likely become more volatile, as logic begins to wrestle with unbridled enthusiasm. Based on charting, the current market cycle appears to be running through January 2014.
Things to consider:
Some have not heard about my recent accident. I broke my collar bone in 4 pieces, plus several broken ribs. Surgery went fine, and I now have a plate and 7 screws in my shoulder. As I have been reminded, “You can hire people to use chainsaws and ladders”. Our defined process continued to operate well in my short absence, and it’s thanks to our wonderful office staff and advisers that things went so smoothly.
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