Mid-Year Market Review – Investing in a Pandemic
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” – Paul SamuelsonWith all of that being said, the stock market has been resilient in the face of all of this bad news. From the market low on March 23rd, the S&P 500 is up almost 40% since then. This is mostly due to the fact that there has been tremendous monetary and fiscal support to act as a backstop to the economy. Investors are focusing on re-opening measures and an expectation of a swift rebound in corporate profits. The market is a forward-looking machine and will most likely be in a tug of war between those who think the worst is behind us and those who think the recovery will be a slow churn upward. What this means for our portfolios here at Sgroi is that we will continue to play defense with our bonds and have a slight overweight to growth sectors of the market. This allows for us to weather the storm in the short/medium term and maintain enough exposure to cyclicality if the market does continue to trend higher. With volatility likely to remain elevated, we feel that this is the best way to move forward, and feel the risks right now in the market do not warrant any significant bets. We appreciate the continued trust you have put in Sgroi Financial not only during these trying times of 2020, but over the course of your financial journey with us. As always, we are here to assist you with any questions, and hope you have a wonderful summer.
ABOUT SGROI FINANCIALSgroi Financial is a full service, independent financial planning firm proudly serving the Western New York area since 1971. We offer services that will help you achieve your financial goals including retirement planning, investment management, estate planning, college planning and insurance. We help individuals, families, retirees, working adults, young adults and business owners.
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Securities offered through Cadaret, Grant & Co., Inc., member FINRA/SIPC. Advisory services offered through Sgroi Wealth Advisory Group LLC, an SEC Registered Investment Advisor. Sgroi Wealth Advisory Group LLC, Sgroi Financial LLC, and Cadaret, Grant & Co., Inc. are separate entities.
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