So now that the market correction is over, it’s time to take stock, engage in a little self-reflection of your buys or sells, if…
So now that the market correction is over, it’s time to take stock, engage in a little self-reflection of your buys or sells, if you made any at all.
But it’s also a time for the Trump administration to do some soul-searching and review its handling of the hysteria that gripped the markets and kitchen tables for the historically super-volatile month of October.
Many things contributed to the emotional spasms of the stock and bond market last month.
For one thing, fear of the Fed has gone too far.
For another, there is fear of the Democrats taking control of the House and using every trick in the book to slow the Trump economic growth model .
These types of things scare the daylights out the markets.
But to balance out the hysteria we have the accomplished but under-the-radar Treasury Secretary Steve Mnuchin, who clearly likes to let his actions speak for themselves. He’s accomplished a lot since arriving in DC.
As one major example, take the tax cuts for all: a massive revamping of the low-income end of the tax code with a doubled standard deduction, and corporate tax cuts that spurred a bonus bonanza, which went viral with millions of middle-class workers getting surprise bonuses of $1,000 and more.
Mnuchin has Street cred, so his speaking up would have helped ease the markets’ volatility a bit, but his actions have spoken clearly.
So what’s the right thing to do when you sit around the kitchen table and plan for your family’s future?
Only you can decide that. But I can tell you that it has paid off to be a buyer instead of a seller into every single market correction so far, as measured by the major indexes.
So carry on and pay no mind to the hyperbolic antics of foaming bear market geniuses. Adding to your holdings when you can afford it has paid off each and every time since the stock market began trading in 1792. I don’t expect that to change anytime soon.
