David's Weekly - 2024 Mid-Summer Update
David Crotin, MASc, CIM, QAFP
Working with business owners, executives and professionals to provide tax, investment and financial planning strategies to meet their needs and goals.
Plan - Don't Predict
We're jumping in to cover a couple of topics while resting up for the writing season in the fall. A couple of items keeps coming up in discussions with friends and colleagues at the various business owner centric events we frequent over the summer. And those are:
1) what will happen with rates going forward?
2) what are expected market returns as rates are cut and going forward?
3) could you just buy ETFs to fulfill your investment needs?
Rates: too far one way then too far the other: how do you plan for market swings and cycles?
Trading desk discussions over the last 25 years frequently dwelled on the fact that Americans in general, and in particular policy makers and central bankers, tend to go way too far one way and then way too far the other way.
Our friend David Rosenberg, the Canadian financial pundit who has predicted 8 out of the last 2 recessions, is dovish on rates.