Greetings Clients and Friends:

We took advantage of the drop in the markets this week to invest cash. The S&P 500 Index is down about 5 ½% for the week. We love sale prices; they help us make you more money.

The markets have declined as investors believe that we are unlikely to see another round of stimulus in the near future. Rising COVID infection rates and hospitalizations have not helped either.

Markets tend to overreact in the short term and frequently correct much faster than expected.  We have the benefit of many years before we will spend our last dollars.  These long time horizons provide great protection.

Please keep us updated on your short-term cash needs. As always, our money is invested right alongside yours.

Sincerely,

John H. Biebel, J.D., CFP®