Michael Baker 00:05
Welcome back to Vertex insights. Today is June 1 2022.
"We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessman 30 years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls to oil shocks. The resignation of a president, the dissolution of the Soviet Union, a one day drop in the dow of 508 points, or Treasury bill yield fluctuating between 2.8% and 17.4%." Written in 1994, by Warren Buffett,
Over the next few weeks and months, there is no doubt we're going to continue to hear all different kinds of economic forecasts predictions and opinions about what the next phase for our economy is going to be. We also have a contentious election coming up in the fall. The point I'm trying to make (and would like you to consider) is that this isn't the first time nor will it be the last time that we are living through a contentious period where economic predictions, political commentary, and opinions are flying left and right.
Remind yourself as an investor, we want to think about our long term focus and our long term financial plans.
What are our principles? What are our values? Are we investing according to those? Have our principles or our values shifted? If they have, then that would call for an adjustment in our long term financial plan.
This is how planning is supposed to work. You're supposed to be thinking about what's important to us, our own specific financial goals, and our own specific financial focus for the future, and invest our capital, human capital, financial capital, social capital, all of that is to be invested accordingly. So remember, stay focused, and keep doing the right things.
Michael Baker and Ross Marynell are investment advisor representatives of Advisory Alpha LLC, a SEC registered investment advisor, all opinions expressed by Michael and Ross or their guests are solely their own opinions and do not reflect the opinions of Advisory Alpha. This recording is for informational purposes only and should not be relied upon for investment decisions. All third party ratings are date stamped at the time the rating was given. ratings that are dated prior to January 1 2022 may not reflect the current offerings or services of the financial advisor and should be disregarded if found inaccurate. Amazon dot com allows the issuance of ratings in the ordinary course of business through the use of this site. No compensation was provided directly or indirectly by the advisor in connection with obtaining or using the third party rating.