August Observations
I was traveling in Texas a few days ago to visit with clients. Things I was REMINDED of:
- The hill country of Texas is one of the most beautiful sections of our country.
- I love time with clients and old friends – whether on the phone or in person. I greatly value and appreciate the relationships.
- Speaking more broadly of travel and time in cities, airports and various walks of life: People are generally good people. The media loves to find the controversial and, many times, the stand-out or negative stories. But the bottom line is that most people mean well, are willing to help or accommodate, and are at minimum, interested in being nice. . . hoping for the same from those around.
- Texas is also hot.
As for the markets. Some reality has come around over recent weeks. The euphoria-driven stocks are coming back down to earth a bit as we knew they eventually would. Meanwhile, other non-tech sector parts are down modestly, but holding up relatively well. Bonds are rallying nicely and the stock market is experiencing a periodic correction. As we have said many times, this is also timed with what is typically a challenging time of year for financial markets. All of this to say: Nothing is alarming at present. We will, all together, watch and see what happens next.
Also, posted is an interesting Raymond James report that speaks about the election, the recent campaign developments, and possible effects on the economy and markets.
August is here. . . .
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