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,
?The election is over. What now?
?For me, not much has changed. I woke up early Wednesday morning, just like every other day for the past few decades, brushed my teeth, just like every other day, went to the gym, just like every other day, ate some protein, just like every other day, went to work, just like every other day, provided sound financial planning advice, just like every other day, met up with some friends in the cigar room, just like many other days, ate some protein, just like every other day, watched a comedian special, just like every other day, and went to bed, just like every other day.
Everything is different, but nothing has changed.
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I suggest that your day to day activities didn’t change much either, despite whether you liked the election outcome or not. And oh yeah, in 4 years we’ll be doing this all over again.
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“Today is the tomorrow you worried about yesterday.” – Dale Carnegie.
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I am also actively avoiding all the webinar invitations, “What’s Next For Washington,” “Post Election Debrief,” “Political Tailwinds,” yada, yada, yada.
Why? Because they don’t add anything meaningful. This is an actual headline from an industry publication, “Trump’s Victory Bodes Both Well and Ill for Markets, Analysts Predict.” You don’t say. I didn’t bother to read the article.
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?Keeping that helpful info in mind is why we don’t make any strategy changes based on what “might” happen. We only make changes based on what actually happens. So if/when they change tax laws, we’ll evaluate. If/when they change estate taxes, we’ll evaluate. If/when they adjust capital gain rates, we’ll evaluate. If/when they modify regulations in some area, we’ll evaluate. And so on. Until then, we won’t react to proposals, or intentions, or ideas, or suggestions. But, the WMR was paying attention when the markets spiked on the news of the election results. In a market that could be considered already overvalued, that might not be a good thing. Call me to consider some downside protection.
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?With the chatter behind us, now our sports broadcasts won’t be incessantly interrupted by political advertisements. We can look forward to holiday ads for stuff we don’t need and can’t afford. In other words, back to America as usual.
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?“Americans Lack Plans for Retirement Income”
So says this brief article.
How does that old adage go, “failing to plan is planning to fail.”
Take it easy with the worn out cliches, Mike.
Ok, but even while considering that the study was done by an insurance company which just so happens to offer retirement income solutions, I believe it. There are only a few places from which you might derive income during retirement. A. A job, which means you’re not actually retired. B. A pension. There aren’t many of those around anymore. C. Social security, which won’t be enough to live on. D. Your savings and investments. E. That’s it.
Call me to help you with your retirement income calculations.
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?Stellantis is laying off another 1,100 workers in Ohio.
This is in addition to their several other rounds of recent layoffs.
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On the heels of the Stellantis news, Nissan announced 9,000 job cuts and a reduced profit outlook
Call me alarmist or whatever, but lots of layoffs in the auto industry seems like a warning sign for the economy. People not buying cars is not a positive indicator of future prosperity.
And of course, if you or someone you know is affected by these downsizings, please have them give me a call to discuss their retirement plan options.
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Separately, does anyone else remember when Nissan was called Datsun and the coolest guy in the neighborhood drove a 280Z. The one below sold a couple of years ago for $140,000.
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?This week’s review is not a comedian, but instead the Netflix documentary series “Mr. McMahon,” about the former owner and mastermind behind World Wrestling Entertainment, originally the World Wrestling Federation, Vince McMahon. I enjoyed it a lot. Full disclosure, not so much these days, but I was a pro wrestling fan back in the 80’s and 90’s. I remember Wrestlemania I in 1985 when Hulk Hogan broke the Camel Clutch and defeated the Iron Sheik to become the champion. I was there in 1987 at the Pontiac Silverdome with 93,000 friends when Hulk body slammed the 7’4” 500# 8th Wonder of the World Andre the Giant. I watched as it grew from a niche sideshow into a hugely popular mainstream attraction. Most, if not all, of that growth due to the vision and the efforts of Vincent K. McMahon. Love him or hate him, and many people do, you have to respect what he created. He didn’t do it alone of course, but he knew what to do, when to do it and whom he needed to enlist to help him. He took his father’s company, which was a successful, but small, regional wrestling organization and transformed it into a multibillion dollar national phenomenon. And then it almost went out of business. But it didn’t. As you might expect, lots of ups and downs along the way. Successes and failures, triumphs and scandals, winners and losers, friends and enemies, all of which is covered in this 6 episode series. I found it a very eye opening, entertaining and interesting study not just about wrestling, but in how to build a business, how to handle both personal and business adversity, how to tap into national culture, how to create and tell stories, how to read your audience, give them what they want, and so forth. You also get some insight into various WWE personalities over the years. If you like documentaries, which I do, then I recommend this series.
Here is the trailer, https://youtu.be/fwKm7WM_P8E?si=zVTDhQN5dcK_LC-m
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C’mon Mike, isn’t wresting fake?
Fake is the wrong term. Yes, the outcomes are predetermined, the storylines, heels v. babyfaces, are scripted, and the drama is manufactured, mostly, but the action is 100% real. 300# uber athletes tossing each other around the squared circle 200+ nights per year. Nothing fake about that.
Star Wars is fake.
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?This week’s chuckle is a minute of Dave Chappelle explaining that he’s not on Twitter,
Safe for work.
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?LF30 – “If you don’t have time to do it right, when will you have time to do it over?” – John Wooden.
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Have a great week and stay healthy.
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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
947-258-0289 texts [email protected]
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