White House debacle has caused reversion of savings portfolio components to value priced income producing stocks (some fully priced – our new portfolio risk), rather than capital appreciation (see 2nd quarter post “Risk is to upside for U.S. stocks”).
Although I’ve been mostly successful in maintaining a bitten tongue, as this is a quarterly publication, this early post is to advise that portfolio character has changed (note 1.).
In alphabetical order:
note 1.) I’ve dumped calculus for the Trump agenda, not for the Charlottesville debacle, but for his lack of necessary foresight shown in his lashing out at Amazon.com Inc. No company more so reflects constructive progress, innovation, opportunity and sustainable effort (maintaining purchasing power for savings) more than it.
Opportunity costs (lost opportunities) are not catastrophic and governance remains preferable to his previously offered opponent. Nevertheless, securities will adjust future pricing for a new reality of solid U.S. strength with historically healthy fear of political vacuum, unfortunately all too familiar.