Obsidian Market Update 10/7/2022
This week, we’ll talk about the role of emotions in investing. Then, it’s officially Soup Season! We cover some of the best soups in the world.
Before we get into all of that, though, we want to send our love to everyone affected by Hurricane Ian. We hope you and your loved ones are safe.
We know that a lot of you have thoughts and fears about the current stock market trend. The Fed announced that it will likely keep interest rates higher for longer, which has also affected the bond market. The lower market values certainly do not sit well, and behavioral finance tells us that the average person has the potential to make less desirable decisions based on their own biases. Emotional decisions are likely to be detrimental for investors.
Of course, historical trends show that staying the course with investments is rewarded in the long run. That does not mean that tactical shorter-term decisions are not made when in volatile economic times and market conditions. the course of the last two years, we have rebalanced portfolios using both fundamental and technical strategies. We have virtually eliminated intermediate and long-term bonds from portfolios and added significant positions in T-Bills to reduce the exposure to interest rate hikes in the fixed income side of portfolios. In addition, we have reduced our position in large cap growth and repositioned into higher value-oriented investments. We are regimented in monitoring portfolios in the near term while keeping an eye on our clients’ long term goals.
Remember, no market environment is ever perfect. The moment we are in is part of restoring the balance between economic growth and inflation. We’re always prioritizing your long-term plan–that’s what our Lifestyle Protector Program is all about.
Now for something a little cozier. It’s soup season, and it turns out that having a favorite soup is a worldwide phenomenon. Here are the soups from the World’s Best Soups list that we most want to try (and click the links for each one for a recipe!):
- Bouillabaisse (France): A brothy fresh seafood stew with saffron and other delicious spices? Sign us up!
- Banga (Nigeria): Fresh catfish, beef, and dried seafood, combined with banga spice and palm oil fruits create the most popular soup in Nigeria. The rich, red broth is perfect for soaking with starch balls made from cassava.
- Groundnut soup (West Africa): Groundnut soup is an international sensation with variations by country. Enjoy meat, fish, or chicken in a rich peanut soup. The ultimate comfort food–maybe it’s time to give it a try.
- Caldo verde (Portugal): Here’s a great one for vegetarians. Greens, potatoes, and onions make it the epitome of comfort food–and reportedly, it goes great with the region’s wines. Add some smoky sausage if you want a more protein-heavy meal.
- Harira (Morocco): Many Muslims turn to harira when it’s time to break the fast after sunset during Ramadan. Usually a vegetarian recipe, this chickpea stew uses many of the region’s most delicious spices to create a beautiful and comforting meal.
That’s it for us this week. Cook something delicious, and we’ll be back in your inboxes next Friday.
How We Help
Many of our client’s are self-employed. Their business(s) can be one of their largest assets. One of the ways to continue to grow a business, is to attract and retain the best talent around. We are helping a business owner in Virginia do just that be implementing a restricted stock plan that will incentivize her key employees not only become part owners of her firm and motivate them to grow the company. This way, when the company grows, everyone wins. The key employees have a way to build their own wealth, and the owner is able to meet her own planning and lifestyle goals at the same time.
Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member FINRA/SIPC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.