Weekly Market Review
Michael Acho
Guardian of the Wealth of the Most Productive People on Earth | Creating, Protecting and Distributing Wealth for Clients
?Good afternoon,
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Let’s begin this week with some shameless self-promotion as we head into the home stretch of election season. Vote For Me!
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Um, what do you mean Mike? Are you running for office or something?
I’m not, so voting for me isn’t technically available. But, you can show your support by passing along the WMR to friends/family/colleagues. It is for public consumption. And/or you can introduce me to friends/family/colleagues who might have financial questions. As a service to my subscribers, I offer myself as a sounding board for anyone who has questions. Have them reach out. Confidential, complimentary and brief. Thank you for the consideration.
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“The people who cast the votes don’t decide an election, the people who count the votes do.” – Joseph Stalin.
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I’ve lost count of the “Election Update” webinars and workshops to which I’ve been invited.
Or this title, “Election Outlook.”
Or this, “Impact of the Election.”
Or this, “Washington D.C. Review.”
Etc.
I’m just unconvinced that my attending an election outlook workshop is going to change any of my core financial planning strategies. It might tweak some short term thoughts, but that’s about it. This November will be the eighth national election cycle of my professional financial advisor career. Both teams have won and/or lost over that time and yet the world keeps spinning. I’ll suggest that it will continue to do so this time around as well.
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?Shameless promotion #2 this week involves my daughter and a 5k charity run she’ll be doing this weekend. If you are charitably inclined, please visit ?
Thank you.
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?I can’t believe that I even have to comment upon this, but here is a headline I saw last week,
“27% of adults have taken bad money advice from TikTok…”
Yes that’s real. Here is the actual article.
This hurts my feelings. If you’re getting your money advice from TikTok, please don’t.
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?Speaking of advice, nice segue Mike, markets are making all time highs right now.
Which is good for feeling wealthier. And good for those investors who are in selling mode. But not so great for those of us still in accumulation mode. We’d rather buy when things are on sale.
One of the more well known Wall Street disclaimers, “Past Performance Is No Guarantee Of Future Results.” Which means, of course, that there is no promise that what has happened in the recent past will continue into the future. Choosing strategy while only considering history is like trying to drive your car using only the rear view mirror. Markets may continue to do well. But what if they don’t? I contend that now, while markets are up, is the time to consider some portfolio insurance. If you wait until markets have already pulled back, you’re too late. Call me for a discussion of some protection strategies.
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?A bit of sad sports news this week, Pete Rose has passed away at age 83.
The MLB Hit King was always a bit special to me. When I was a kid, my cousin used to take me to baseball card shows. We’d buy and sell cards and other memorabilia at least a few times per year in some VFW hall somewhere. My cousin recommended to me that rather than haphazardly collect cards, I should choose a favorite player and focus my collection on that player. His player was Roberto Clemente. He acquired every Roberto Clemente card he could find. That sounded like a great idea to me. I was 10 years old or so, and Pete Rose was on the cover of Sports Illustrated, so I selected him as my focus. Over the subsequent years and the rest of my card collecting days, I purchased anything and everything Rose related. Including this 1963 rookie card below for which I paid $11 in 1977. Fast forward several decades and I decided it was time to part with my collection. I enlisted the help of a friend in the sports memorabilia business to assist with the sale. I was confident that my years of accumulation efforts were worth at least a 5 figure Rolex. Turns out, it wasn’t enough even for a Timex.? But I digress..
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In addition to most hits ever, Pete owns many other MLB records and was an All Star 17 times.? And yes, perhaps he gambled on games, but now MLB has sports betting websites as sponsors. I say Pete was ahead of his time. And since he’s now passed, doesn’t that satisfy his “lifetime” ban from the Hall of Fame? Put Pete Rose in the HOF NOW!
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领英推荐
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This week’s first live show review is “The Book of Mormon” musical comedy. Originally written by the very funny creators of “South Park,” the show has been around for more than 10 years and has garnered various awards. I had heard of it, but never seen it so I thought I would take the opportunity when it came to town.
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Here is my review.
Hmmm. What’s the best way to put this? Um…it’s ahhh….whoa…let’s see….
Several words come to mind; different, odd, unique, irreverent, weird, unusual, strange. All of which are accurate. I see what they were going for and there are some funny parts, but it was just ok. A friend of mine didn’t care for it at all and actually walked out when he attempted to see it years ago. He called it “blasphemous.” I guess that’s accurate as well, but I’m not at all religious so that factor didn’t bother me. At 2 ? hours long, with an intermission, it was about 90 minutes more than my attention span so I found myself looking forward to the conclusion. Which is not a good sign during a show. In summary, I wouldn’t recommend it. Instead, go back and watch some classic South Park. Those are much funnier.
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This week’s second live show review was Iliza Shlesinger at The Fillmore in Detroit. She’s been doing comedy for nearly 20 years and has several very entertaining specials on Netflix. Her live show was good, but IMO, not as good as some of her past material. She seemed a little more angry and a little more aggressive than what I was expecting. That said, I’m not sure what I was expecting. She was funny, but it came with a bit of an edge. She mentioned a couple of times that she’s working out material for an upcoming new special which will appear on Amazon next spring. I didn’t dislike her show and there were plenty of LOL parts, but some of it was a bit preachy.? She did remind the audience that comedians have the right to say whatever they think is funny. I agree. She also reminded us that the audience has the right not to laugh. I agree with that also. In summary, I liked her enough that I would see her again and I will watch her new special. If you want to check her out, look up her stuff over the last few years on Netflix. Her opening act was a comic named Hunter Hill, who was also pretty funny, I’m going to look him up as well.
?Dinner this time after the show was at Central Kitchen in downtown Detroit, which, full disclosure, is owned by a few friends of mine. https://www.centraldetroit.com/
Walking distance from the theater with good food at reasonable prices in a cool setting. They have a fairly small menu, which I prefer, because that generally means everything is good. When restaurants offer dozens and dozens of choices, I believe that it’s hard to prepare so many dishes well. Central does what they do very well.
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?I contemplated a third live show last week, but it wasn’t to be.? Australian comedian Jim Jeffries was in town. I’ve watched him and I like him, but his tickets were priced a little higher than I was willing to pay so I opted out of seeing him. Maybe next time he’s in town. No other live shows on the calendar until November.
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This week’s chuckle is an extended cut of Zoltan Kaszas from his show in Detroit that I attended a couple of weeks ago. It is not my recording, Zoltan posted this to his website. At about 20 minutes, It is longer than my usual clips, but it’s funny and it’s safe for work. Not even one curse word. Enjoy.
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LF30 – “Things in our country run in spite of government, not by aid of it.” – Will Rogers.
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Have a great week and stay healthy.
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This material is for informational and educational purposes only. Opinions and forward-looking statements expressed are subject to change without notice.? Links to external content are provided for your convenience and for informational purposes only. They do not constitute an endorsement or approval by Osaic FA, Inc. nor does the firm receive compensation or remuneration for your access to such content. Osaic FA, Inc. bears no responsibility for the accuracy, legality, or substance of the external content or for that of any links within such content. The opinions expressed are those of Michael Acho and not necessarily those of Osaic FA, Inc. CRN-7082484-100224
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Michael J. Acho, MBA, CFP? Private Wealth Advisor --------------------------------------------------- Osaic FA, Inc. 20505 West 12 Mile Road Southfield, MI? 48076 248-948-5100 direct 248-948-5101 fax 248-933-4339 cell
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