3rd Quarter Market Outlook
Another over the top Fourth Of July celebration in my neighborhood has concluded. Having a July 3rd birthday that your neighborhood has been celebrating with a party since 1955 definitely has its perks. At the halfway point of the year, the market has had two major potholes it has recovered from. The first in January was the drop in oil prices and the second more recently was Brexit. Each of these drops offered opportunities to buy as prices lowered and those long term investors who were bold to invest any extra funds when it was uncomfortable have benefited the most. Looking forward, all eyes are focused on the election and the four remaining meetings of the Federal Reserve. Current predictions look towards 2017 for any significant change in interest rates. The election will surely keep all of us entertained much in the way that you cannot help but rubber neck at a bad wreck on the highway although you don’t want to look.
On the Personal Side:
The girls are having a great summer with swim team, camps and trips to the beach. Evan has jumped right into her summer time role of mom and unpaid full time Uber driver for kids. Evan just celebrated her 25th birthday again on July 10th. Reliving the awe of summer by catching fireflies with my kids has been a lot of fun. Swim team concludes in the coming week and Amelia finally made the plunge at a swim meet with a 25-meter time of just under 18 minutes. Watch out for Amelia in the 2028 Olympics. Lila turned 7 in May and we celebrated with a trip to a strawberry farm on the bus with a group of other smiling, snaggle-toothed children. We are looking forward to a week at the beach with the family later this month.
Against all logic and reasonable advice, we attempted a camping trip this month. Surprisingly we had so much fun we forgot to leave our children in the woods and decided to keep them around. We did a technology ban and lasted one full night in the woods, all of 10 feet from our car. Amelia wore her robe the entire time, gaining the new nickname “The Dude” in reference to the movie “The Big Lebowski.” We hiked, swam and cooked over a fire and enjoyed a brief period of simplicity.
On the business side:
I have been contacting my representatives in government to propose an outlaw of future creation of portmanteau words by media to give non news more pizazz. Words such as “brunch” are one thing, but “Brangelina,” “Brexit” and the like have gone too far. Recent news has created quite the uproar and market volatility in association with Britain’s exit from the EU or “Brexit.” Good news is that the markets have rebounded substantially from the brief and magnified reaction to Brexit.
Our team has been very busy servicing client’s needs. The biggest news from our team is that Ashlie was married on June 11th to MJ Hardaway in Tampa Bay, Florida. We are very excited for Ashlie and MJ. She has been immersed in learning our online account access and financial planning platform Emoney and will be available to help if you have any issues logging in or would like assistance.
We have added Erin Deaton to our team as well. A graduate of High Point University, Erin has quickly learned the ropes and is growing into her role as Client Service and Operations Specialist. We are thrilled to have her as part of the team. For more about Erin, please click here.
Sarina Russo has been interning for us this summer as well. A rising Senior at UNCG, we have really enjoyed having her around. You can also learn about her with the above link to our team.
If you have not already done so, please connect via LinkedIn or Twitter at @mattloganinc or follow my page on Facebook where you will find timely articles and regular TV interviews. While I am cautious not to overwhelm you with emails I do post regularly on these outlets and it allows you to receive information from time to time that could be helpful for you and your family. We have also changed the formatting for our quarterly newsletter, so be sure to keep an eye out. A new blog added to the website has been fun to write and I will be adding our newsletters as well as other timely and even some not so relevant pieces of information.
Having a great group of clients and friends has continued to bring a steady flow of really fun, interesting people to work with. Please don’t hesitate to reach out to me if you have someone in your life who could use some help financially.
As I mentioned, we have consolidated our online account access through E-money. To access your accounts, click here. The feedback we have gotten on this system has been fantastic and if you would like to schedule a time to go through the system and have us build a dynamic financial plan for you, please email [email protected] to schedule a time.
The bus has started to pick up some over the last quarter with a few trips to our budding wine region. I chartered the bus along with a crew of misfits to Morehead City for the Reelin’ For Research fishing tournament in May to raise funds for UNC Childrens hospital. While we caught fish and had a great time, we did not bring home any hardware. For more information go to http://www.whythebus.com/
Fourth Quarter Outlook:
This long, slow boring bull continues to plow forward. With the impending elections, we do not expect many significant changes in the coming months as Washington wants to keep things steady for political reasons. Wall street continues to see earnings rise and hiring has been on the uptick. We have even seen a jump in housing. Maybe some of those millennials who we worried were going to live their whole lives in their parents basement are finally getting the itch to own a home and a job that can pay for it.