Dear Clients & Friends,
This weekend, we share with you a blurb written by our beloved Kirsten about the Pittsburgh tragedy. Kirsten remains a part-time member of the MORWM family while she raises her beautiful twins, whom we loving refer to as “the Moosies".
Before I hand it over to Kirsten, here is the simplest of summaries regarding our current market-related thoughts. In January, we warned of an imminent 10% correction. The market began dropping two weeks later and fell a total of 10.2%. We then forecast a recovery with a new high target of 2880 on the S&P; the index topped out at 2930. We had already started to reduce risk when the market began to tumble once again, falling close to its February lows. We believe, for reasons that will be detailed next week, that the markets will return to their most recent highs regardless of midterm election results. We continue to see increasing signs of volatility in the market and worry among investors, so we remain steadfast in our prediction of a recession by 2020. Therefore, we plan to continue to reduce risk when the time is right.
Now, I hand the pen to Kirsten so that she may share her thoughts on the tragic state of American unity.
Over the past few days, our country has seen a widespread campaign of assassination attempts on critics of the President and an anti-Semitic hate crime in which eleven people lost their lives. Violence against groups because of their race, religion, or ideology is not a new phenomenon, but each generation must ask themselves the difficult questions: why does this happen, and what can I do to combat it in my own world? Hateful acts such as those we witnessed in the last week do not happen in a vacuum. We must recognize that acts of violence that may seem all too ordinary – racist jokes, off-color comments, the stereotyping of different groups or the view of them as inconvenient or “less than” – culminate in this horror. Although this is a seemingly far-fetched possibility at this point, we must remember that some of the most atrocious acts of violence in human history have started small, with the sowing of the seeds of doubt, mistrust and fear. We must unequivocally and fearlessly reject the dehumanization of “others”, or else risk our own humanity. Hopefully, one day, we can live in a world where no one dies because of their religion, color or ideas. In the meantime, we will remember the eleven dead of Pittsburgh.
We will remember, and we will act.
Matthew Ramer, AIF®
Principal, Financial Advisor
MOR Wealth Management, LLC
1801 Market Street, Suite 2435
Philadelphia, PA 19103
P: 267.930-8301 | c: 215-694-4784 | f: 267.284.4847 |
601 21st Street, Suite 300
Vero Beach, FL 32960
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