In Las Vegas, on any given day, a gambler can strike it rich or lose it all. However, over time, the house always wins.
On Wall Street, on any given day, an equity investor can strike it rich or lose it all. However, over time, stocks have proven to be a winning bet.
This is why we are not fazed by the current erratic behavior in the equity markets. The market was long overdue for a correction, the economic outlook remains quite positive, and as long term investors, we are comforted in knowing that stocks have historically proven to be a winning bet.
All comments and suggestions are welcome.
Christopher J. Kress, CFA