I am happy to report that I am happy to report. Sure, there is plenty of bad news out there, but remember, bad news sells papers or rather, bad news means clicks. Not that you should ignore it all or bury your head in the sand, but try to balance the bad with something positive. The following are a few suggestions.
I have been reading a very interesting book lately that was recommended by my friend, Dr Linda Sanicola. You may recall we have done talks, back when talks were a thing, about the intersection of money and psychology. We were sitting together at lunch, she a psychiatrist and me a financial advisor, discussing how they don’t teach you money in med school and they don’t teach psychology in finance school. Oh sure, there are those that have written about investor psychology from both economics and psychology fields but our professions don’t really emphasize it, and if you want to learn about it you have to read outside of the usual channels. So, Dr. Sanicola and I decided to talk about it ourselves.
The book is Love Money, Money Loves You by Sarah McCrum. It is written from the point of view of money like The Art of Racing in the Rain by Garth Stein is told from the dog’s point of view. Imagine if you could talk to money directly and money could talk to you? What if money could dispel all our myths and misunderstandings about money and help you shift your mindset? After all, changing your mindset is the key to success in any endeavor. If you’d like a copy of the book just email me at David@HicokFinancial.com with Show Me the Money 🙂 in the subject line.
What also makes me happy is that this month was one of the best monthly market returns we have had in decades and certainly a bright spot this year. It’s been a difficult year for many of you and it’s nice to have a good month in the markets. And bond yields are up! Since the financial crisis of 2008-09, cash and treasuries have paid almost nothing. Like nearly zero. Recently, I have been buying treasuries that pay 4.5%. It’s not an equity-like return and it won’t keep up with inflation, but it is nice to deliver a positive return in an otherwise scary market. The elections are over in one week! Hallelujah! We can move on from the uncertainty the election cycle brings, not to mention the political ads. The Fed meets today and tomorrow, and we can expect an interest rate hike, but we are not sure how much. It will be nice to put these two uncertainties behind us.
These are just a few things to be happy about ~ or at least hopeful. If you are worried about our economy, the markets or anything financial be sure to reach out to us and schedule a time to talk.
Have a great month 🏳🌈
David
