Q1 2017 Market Commentary
Imagine you’re really hungry, and you’d like to make a nice meal for yourself. So, you put together a shopping list and head over to your local grocery store. On the ride there, you can’t stop thinking about how great your meal is going to taste. It’s going to be savory, a little fatty, and maybe just a tad sweet.
However, upon entering the grocery store, you become dismayed. The meat is really expensive! And so are the potatoes! Nearly everything in the store is priced much higher than normal. You’re indignant. “I’m not going to pay this!” you exclaim. Then your belly rumbles. You try to ignore it, but it rumbles again. Begrudgingly, you put a few necessary items into your cart. “Gee,” you think, as you walk your cart to the front of the store. “This isn’t going be the meal I was hoping for after all.”
We all need to eat, and we all need to save and invest. One way to invest, of course, is to buy stocks. Sometimes, shopping in the stock market can be expensive, just like shopping at the supermarket. But you still need to shop there, and this can be aggravating. Unfortunately, now is one of those times. Of course, this isn’t entirely bad. As prices have risen, portfolio values have risen. Over the past five or six years, investors have enjoyed the opportunity to put a little extra “meat” on their bones. But when prices are higher, staying well-fed starts getting harder.
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