This is the title and first line of a Merle Haggard song. The second line is, “Everything’s gonna be all right I know”. Thinking about the message in the song, which was written in 1973, and looking at where we are now, provides some food for thought. By the end of December 2020, the election should be over, we should have, or be much closer to, a Covid-19 vaccination, and the economy is likely to be making further progress.
While this is not intended to be a market prediction, if we make it through December, there is a good chance that 2021 will see positive year-over-year comparisons for most companies, setting the stage for a very good 2022.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA