At the bottom of the great recession in the fall of 2008 and early spring of 2009 things looked bleak. Amazon - one of the brightest stars of our current rally along with it's FAANG+M companions (Facebook, Amazon, Apple, Netflix, Google and Microsoft) was down over 60% from it's peak reached ten years earlier during the height of the dot-com boom. Similar stories could be told of the other FAANG+M companies which were publicly traded at the time...
This is the first time in my 25+ years as an investment advisor that I've written a newsletter or article about the boogeyman of past generations of retirees.
Few will cry when the clock strikes twelve on New Year's eve. As it draws to a close let's reflect on some of the 2020 uniqueness that doesn't regularly make the nightly news...
Unless something miraculous happens, we will have a new President of the United States come January 20th 2021. Donald Trump and his supporters have thrown a Hail Mary pass by filing legal challenges in several states that they contend were fraught with irregularities...