LEADING THE WAY FORWARD IN THE NEW YEAR

In my previous article, I presented the case for confidence in the new year. 2020 was certainly a unique time for many, but even with the challenges that we faced, we ended the year strong with real estate doing well in many places and the stock market closing at record highs, highs which have now been surpassed.[1] Similarly, oil prices have risen, with some fluctuations, from around $48.50 at the start of the month to nearly $53 as of this writing.[2] Demand for oil is expected to increase as people become eager to travel after a year of quarantine. 

But with this being said, if there is one lesson we can take from the past year, it is that we cannot predict the future. We can, however, be prepared to act when opportunity arises. 

According to the Edelman Trust Barometer, a survey which includes 33,000 people in 28 countries, business is currently the only trusted institution, and the only institution seen as ethical and competent, beating out NGOs, government, and the media.[3] We as entrepreneurs and business leaders must honor that trust by remaining vigilant in our dedication to our partners, our employees and our communities. 

On the surface, much has already changed this year. We have a new party in control in Washington whose potential policy changes may significantly alter the investment landscape. But, despite all of this, the fundamentals remain the same. Regardless of market conditions, there are always opportunities to be found, and we must capitalize on these opportunities to the best of our abilities. That is how we continue to lead the way forward. 

Are you prepared to take action this year? How will you continue to find opportunities for your partners and clients? Let me know in the comments. 

This article is not intended as specific investing advice. Talk to your financial advisor or investment professional to get advice relevant to your particular situation.

[1] Tappe, Anneken. “S&P 500 and Nasdaq Hit Record Highs as Volatility Grips Wall Street.” January 25, 2021. https://www.cnn.com/2021/01/25/investing/dow-stock-market-today/index.html

[2] https://oilprice.com/oil-price-charts/45

[3] Edelman Trust Barometer 2021. https://www.edelman.com/trust/2021-trust-barometer