A squall blew through, created a little damage, but then the sun came out and the market got right back on track. In a few days the stock market recovered a lot of what it had lost. Oil, the catalyst for the sell-off, began to stabilize and the Federal Reserve indicated that it would remain patient, keeping rates low for a while longer. What many investors recognized was that lower energy prices help far more than hurt and money is still cheap.
It is almost impossible for professionally managed money to remain on the side lines at the end of this year. Too many managers have been too cautious and are behind their benchmarks and not adding value. Now that the market is on the move they have to at least participate. Stay steady’ my friends.
The Lonely Bull