Season of Change

1st October 2015

“October. This is one of the peculiarly dangerous months to speculate in stocks. The others are
July, January, September, April, November, May, March, June, December, August, and February.” – Mark Twain

It has been told that Mark Twain was a terrible investor and the reason being that he ended up gaining knowledge through his own poor decisions and experiences. The above quote could be attributed to another hard lesson learned in that to speculate in the short-term is a fool’s errand. As you know, we do not believe it is profitable in the long-term to speculate on the short-term. With that said, we were not shocked or overtaken with emotion when the stock market recently became much more volatile the last few months. When we look at investment portfolios, we will make short-term changes but base these changes on the long-term plan we had previously established with each individual client.

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