The market closed at a record high meaning everyone’s investment portfolio is doing well except for those who are investing in defensive stocks. Those are telecommunication, utilities and consumer commodities.
Tomorrow the market will close early as everyone will be looking to rebalance their portfolios for next year.
Biotechnology stocks are going to do well in 2020 and technology stocks are going to continue to dominate the financial markets.
To bad congress can’t keep with the rest of the world. I never liked politics but it’s something we all have to live with. Just as long as they don’t mess with the financial markets and our investment portfolios, we are all good. It’s an election year and we are going to hear promises, promises, promises. Tax the rich to pay for the poor. Free college education and health care (which we desperately need). Better gun management will be better than gun control (works for me) and a whole list of wish list thinking. But wait to hear of infrastructure development and funding.
Next year I am going to do what I do best. Teach financial literacy. I’m going to start with my book, A Beginners Guide to Wealth Building – Defined Contribution Plans. After that I am going to pick the brains of the folks that have generated the best 5 yr returns and find out what they look for in companies that give them the most bang for the bucks.
If you have any questions, now is the time to ask.
Merry Christmas and Happy New Year.
Robert L. Woods (a.k.a. R. LaMont W.)