Payne's Perspecive: October 4, 2021: Get Ready to Pounce
10/4/2021
Well, it was bound to happen. Although it looked as if we could have gone the entire year with misleading points for major indices - like the S&P 500, which had already seen 90% of its components suffering a 10%+ drawdown at some point during the year. In a way, I’m kind of glad it happened; now it’s out of our system, so to speak. Usually, there are several 4-5% pullbacks (minimum) in any given year. However, the question(s) now is why this is happening and what happens next. There is an intriguing blend of concerns, including inflation, the workers’ strike (not to be confused with the shortage), and Capitol Hill chaos. And potentially an avalanche of higher taxes and even more regulations that restrict people and businesses, and a general crisis in confidence from the Fed to Congress. Interestingly, the current turmoil is not about valuations, as stocks have gotten demonstrably less expensive. To read the full report, contact your account representative or email info@wstreet.com to subscribe today.
Charles Payne
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