We hope this finds you well and welcoming some of the cooler air that fall brings.
Not too long ago, near the end of June, I want you to recall the vast number of analysts and pundits that were projecting sharp losses in the global markets for a variety of reasons, including the Brexit vote. The explosion of media coverage after the UK voted to leave the European Union was, in my opinion, attempting to create fear for our portfolios demolition similar to the levels of pessimism heard back in the real estate collapse of 2008.
Fast forward one month, July was simply outstanding for the global financial markets. The European markets also did well, and, go figure, the U.K. stock market actually led the way. As a result, despite the waves of negative chatter about the global economies and the markets, it, as of this drafting, has been a solid year so far, especially for globally diversified portfolios, of which WPP are big believers. If you would like to discuss the numerical returns that create these statements, we are more than happy to visit with you.
While there does exist substantiated political and economic rationale for the U.K’s decision, it will take years for these results to show themselves at which time you truly could ask, what was Brexit?
In summary, we wish this post to serve as an easy to read reminder that our focus in on client outcomes and not short term investment portfolio returns. Your outcomes will be achieved by a steadfast focus on your comprehensive financial plan that addresses all short, medium and long term events, customized to your situation. These financial plans, as you recall, also provide you our time tested advice for your ideal behavior.
Enjoy the remainder of your summer. We will be keeping an eye and ear out for the next round of miserabilisms and further vindication that people with our financial plans make it.