One of my favorite bits of wisdom comes from a Fairway client, “Change your plans because of the weather, not because of the forecast.” He was referring to boating, but it applies to investing as well. The political winds have shifted, potentially changing the economic and investing climate. Don’t get caught up in blanket statements about how things should turn out according to an expert’s model. The markets never behave the way they should. Likewise, we have three or four false alarms of snowpocalypse every winter and besides, a snow forecast for northeast Ohio means one thing if you live in Westlake, but something else if you live in Chardon (and something completely different if you’re in Naples for the winter!).
Have a very happy Thanksgiving. I hope you get to spend it in the company of family and friends.