Letters to Our Clients

November 9, 2016

Donald Trump’s victory was surprising to some but not to others.  The markets were initially not pleased with the results, and overnight futures fell hard, but then it became clear early today that there is indeed less uncertainty now and much more potential for economic growth.  The markets have rallied back into strong positive territory.  I think the initial negative, panicked reaction resulted more from the uncertainty surrounding a Trump presidency than a vote on economic outcomes over the next year or two.  I personally believe that the economic potential of our country is now stronger than it has been in many years which means higher corporate success, stronger equity markets, and better job creation for America.
I suspect we’ll have to endure a good bit of volatility over the next days, and perhaps weeks, as people begin to understand what the election means for economic growth and corporate profits.  But as we know, markets ultimately care about profits and potential, and if we see signs that corporate profits are rising (as we’re seeing with the current quarter’s reporting), then I would expect the market to ultimately follow suit.  Those of you who know that I follow the guidance of a solid tactical charting system may have also heard me say that we have broken out of a long 15 year bear market (01/2000 – 12/2015) in which the average annual return of the S&P 500, including dividends, was only 4.06% per year.  Normal longer-term returns in our domestic markets have been more than twice that.  The future looks bright.
I know some of you are wondering whether we need to “do something.”  And my answer is no.  As we have seen over the last year or so, our focus on high-quality, tactically strong stocks and ETFs, along with some fixed income assets, has served us well during three sharp corrections and helped us to outperform the markets last year by a good margin.   We’re well-positioned to withstand a correction and emerge on the other side in pretty good shape.
As you might expect, I’m always preparing a shopping list, and if we can add to some of our strongest positions at a better price, we’ll do so.  We’ll have to wait and see how things begin to sift out, but as I have said before, the longer-term outlook for domestics equities remains very strong and the removal of some uncertainty could play well for us all going forward.
We thank you again for your trust and confidence that we will take care of you like the family you are to us.  If you have questions or want to talk, please let me know.

July 22, 2016

You might be surprised to learn that we offer a variety of services and professional skills at White Oak that go well beyond managing investments in our clients’ accounts, and the cost of these services is included in the advisor fee. We hope you will take full advantage of these services and, if you are not already, please call us to schedule a visit.
In addition to daily investment management to preserve or accumulate wealth, we help clients with the following:
  • Retirement income planning
  • Asset distribution planning
  • Social Security modeling for personal income goals
  • Reverse mortgage and home equity planning
  • Pension analysis and counsel
  • Estate and tax guidance and professional referrals
  • Insurance analysis and guidance
  • Company 401k, 403b, 457 investment allocation advice
  • Variable insurance and annuity investment allocation advice
  • College planning services
  • Other financial counseling
  • Educational workshops and seminars
We consider it important to talk with our clients regularly in person or by phone/internet at least twice a year to review your portfolios and performance in relation to personal goals, learn about significant changes in your lives, answer your questions, address any concerns, and find out what other support or guidance we can add to our relationship with you. Priestley is currently contacting our clients who are not on a regular meeting schedule to see if they would like to be and to see if they have any questions. We want our clients to experience all that we have to offer.
At long last we are ready to offer our Retirement Plan Advisory Service for clients who are participating in their company defined contribution retirement plans. Those of you who are already clients and who are participating in a current or past employer retirement plan will be receiving an email offering a free trial period in the next few days. We hope you will take advantage of this important service to ensure that your retirement funds are being managed tactically to avoid the devastating effects of major market downturns and to participate more fully in the upsides. Let us know if you have any questions when you receive the email.
We are grateful for your trust and confidence.

Comments are closed.