I’m guessing close to all of you have read about (been inundated with?) the surprising vote by the United Kingdom to leave the European Union after 40-plus years. What strikes me is the utter futility in trying to predict what will happen. My goodness, the experts were so wrong on the outcome of the vote with all of the polling data etc. that the idea they are going to successfully predict the future path amid the mind boggling complexity just doesn’t make sense to me.
The slogan “Keep Calm and Carry On” was created by the British government in June 1939 as a way to raise morale before World War II. While the stakes are much different, investors may need similar moral support today after citizens of the United Kingdom unexpectedly voted in favor of exiting the European Union last week.
Pardon My Tardiness
I apologize for the lateness of this commentary. Last week I returned from “conference week” in Texas and brought back much to ponder as well as a flu bug that’s kept me home sick for awhile. My first conference was John Mauldin’s “Strategic Investment Conference” (SIC) in Dallas followed by a sort of health symposium called “Paleo-FX” in Austin. Maybe I should find a different “health” conference next year that doesn’t get me sick?
“I’ll be working until the day I die”. Could this be Carnac the Magnificent’s answer to the question of “Will investors ever have enough money to retire?”
One of the most common sentiments I hear today when it comes to investing is that of frustration with the markets. After all, the global stock market index is at the same level as it was two years ago (April 2014 to April 2016), but with a lot of ups and downs. I understand and join you in frustration! Two years can seem like a long time to wait for the reward of investing with a disciplined and diversified plan. However, two years is not very long when we speak of “long-term investing”. So how long is “long-term” anyway?