Hello, and welcome to our Market Alert video for today, which is November 3, 2023. And oh my gosh, what a crazy week this has been my goodness. And in fact, I’ve entitled this video, this is ridiculous. So I want to go over with you what happened and what’s going on and where we think we’re gonna go from here. So first of all, thank you for watching, and I hope that all of you members of SCWPer nation, all you clients that are retired, I hope you are enjoying that second childhood. And those of you who are not SCWPerS, yet we are heck bent to get you there. We want you to go and play and have fun. That’s our job and not worry about this boring financial stuff. Let us do it for you. And in that vein, let me go over with you what happened this week. You know, as we said in the video that we sent out last Friday, you know, we saw the correction, the market, the s&p fell 10% from its previous peak, which was in July, scary, unpleasant, not what we want, obviously, but a normal part of what the market does, on average, going back 50 years, we’ve had corrections almost every year, at least one, we forget them because they tend to come and go pretty quickly. And so what we said was last week was it was a good idea not to panic to let our strategy be our guide. And we have not reached our sell signal yet. And in fact, as and we said that we anticipated there’d be a rebound. And that potentially by the end of this year, we would be significantly higher than where we were before all this started. And boy howdy did this week go crazy. We saw the both the bond market and the stock market just really react favorably to the jobs numbers to what the Fed’s anticipated actions are. And so I want to go through all of that with you briefly. To start off with what we said would happen was that inflation would bottom in June, at around 3%. And it did. And we said that the market would like that would think the job of the Fed is over. But then inflation would start heading back up. And we said that the market would perceive that badly. And we said that we’d have what we call the inflation shock, which would be a correction. And that is exactly what has happened. And then we said that what would happen after that is that there would be a lot of buying on the back of that selling. Why? Because the future doesn’t look that bad. If the Fed has done raising interest rates or near it, then over the next six months, the news should be pretty good. And therefore, we’d see a lot of buying and in fact, that is exactly what has happened. The reason I’ve titled this video, this is ridiculous is because you know it’s good to be right. But holy mackerel, 5% in one week, oh my goodness, that’s just insane. But anyway, it’s all good news so far. And I guess you could say that this is what an example of when bad news is good news. Because the reason why the market was so excited on Friday is because the jobs numbers came in less good, not bad, but less good than expected. So that was you could call it bad news. But if the jobs numbers are slowing down, it means inflation should slow down as well. And therefore the Fed may not need to raise interest rates anymore. And all of that is being well received. So I want to thank you for your trust in us. I know that the correction we’ve been through has not been pleasant, we lost money during it. And that you guys stayed the course along with us that you had faith in our strategy and in us and the trust that you give us. I want to thank you for that. And you know, we could we’re nowhere without you. We know that and every day we wake up with a singular goal of either making you a SCWPer if you’re not, or preserving your SCWPerness, if you are and having your money last as long as you do and having financial peace of mind. And I hope that by letting us handle all this for you that we’ve achieved that at least in some modicum of success. Okay, so thank you so much for watching this video. Please share it with your friends, your family. We want to help as many people become SCWPerS as possible. So please share the video with them if you would, if you would. And we will talk soon.
Please note: transcript has been modified after the time of recording.
Economic indicators and stock market performance cannot be predicted. Opinions expressed regarding the economy and the stock market belong solely to Ken Moraif on behalf of Retirement Planners of America and may not accurately portray actual future performance of the economy or stock market outcomes. Opinions expressed in this video is intended to be for informational purposes only and is not intended to be used as investment advice for individuals who are not clients of Retirement Planners of America. All content provided is the opinion of Ken Moraif, CEO and Founder of MMWKM Advisors LLC (d/b/a Retirement Planners of America). ©Copyright 2023