Go Figure!

Despite the global pandemic, a serious recession, civil unrest and political upheaval, the financial markets are at record highs. The word “unprecedented” has been used an unprecedented number of times.

You know the drill. Record unemployment, business failures, commercial real estate under pressure, record government transfer payments, low interest rates and the list goes on.

The good news is that your investments with us remain intact and safe. Our first priority for 2021 is to keep it that way. We will lean toward conservative investments and continue avoiding what we feel are purely speculative and indefensible holdings. Enhancing our defensive posture, cash balances will remain high.

It is only the extremely accommodative Federal Reserve that is keeping the bull market running. We will attempt to find stocks that will prosper in good times or bad. We are not willing to “bet the farm” that all our troubles will end soon and a return to normal is around the corner. It will take time to restart businesses, rehire or retrain the changing workforce and return to healthy growth in profits and dividends. Trust that we are working on your behalf to see you through to a happy ending for all of us.

Identity theft is a real threat. We have recently heard of instances of hackers trying to steal identities in order to procure fraudulent loans. Your best defense is to place a credit freeze with the 3 major credit reporting agencies: TransUnion, Experian, Equifax. Placing a credit freeze with the credit reporting agencies prevents someone else from opening a financial account in your name. It does add some additional steps for you when you refinance your mortgage or look to obtain additional credit, but the additional safety is worth the hassle. Give us a call if you want to learn more or check out the FTC’s website.

Remember to gather your income tax information as it comes to you. We will gladly assist your tax professional with any questions they may have.

Best wishes for a Happy New Year,

Michael F. Cantlon
Thomas E. Guyett
Robert T. Gephart