Pondering...

Just kinda sitting back this morning and pondering the market mood...

Thinking about clients; thinking about what they're thinking about the market...

Actually, thinking about that, maybe, 5%, maybe 10% of our clients who seem to wear their market emotions on their sleeves. Typically we discover who they are (in terms of "market emotion"), not, as you might suspect, during the initial get to know you phase, but during those inevitable rough patches -- as that's typically when they get in touch with their market emotions... I.e., it's one thing to say you're volatility-tolerant, it can be a whole other thing altogether when it comes time to actually experience it.

Yes, the vast majority of our clients ride through volatile periods with extreme grace. As, the vast majority have lived through a number of market tremors with us at the helm... Well, that, and/OR it can be attributed to their understanding -- whether it developed under our watch or not -- of the cyclical nature of markets and economies...

So, aside from being uber-sensitive to our clients' sensitivities, I'm also pondering the short-term market mood in a long-term asset allocation context. I.e., what's it telling us? What's the impact, if any, on longer-term macro trends? Are we positioned properly in relation to long-term macro trends? And are we positioned to take full advantage should this morph into, say, a 2008-style stock market scenario?

All questions we'll be addressing here on the blog and during client review meetings as the future unfolds...

Have a great day folks!
Marty