One and a Half Gainer with a Full Twist

This market is performing tricks that make Olympic divers look timid. Its action is not just up and down but also includes rotations from growth stocks to value stocks, large companies to mid- and small-sized ones, then a twist from domestic to international, and all back again. Sometimes, these moves occur in a matter of days. Bless you, if you can predict the next change. (This is a trick statement because the Bull knows no one can.)

Throughout this, the stock market has shown great resilience. We all hope that continues, but this volatility is bound to persist. Something else no one can predict is the outcome of the upcoming presidential election. Even if someone did know, the stock market reaction might still be a surprise.

Knowing that prediction was futile, Riverplace Capital went into this period with higher-than-normal cash reserves for its clients. We have since opportunistically added some good quality bargains to portfolios that were on our wish list and were temporarily offered at attractive valuations. We will likely pick up a few more bargains between now and the end of the year. In the meantime, stay steady my friends.

-El Toro Solo