“These Are The Times That Try Men’s Souls”

These words were the first line in the first of a series of pamphlets written by Thomas Payne, during the American Revolution, titled “The American Crisis”.

Perhaps a small modification to, “these are the times that try investor’s souls,” might be timely.

Investors, and everyone else, is being pummeled by a barrage of, seemingly never-ending, warnings relating to a litany of possible events, that might disrupt markets.

These include, but are not limited to, inflation, interest rates, tariffs, labor shortages, jobs, wages and the mid-term elections.

Perhaps investors would be best served by taking a deep breath, pausing and then giving careful consideration to the underlying economic climate, before making any hasty decisions.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA