• Will We Know Who The President Is On Election Day?

  With election day right around the corner, there is a doubt among the American public that we will know who our next president will be on November 3rd. From our standpoint, that is a legitimate possibility. Nine states, including Pennsylvania and Wisconsin, will not begin counting absentee/mail-in ballots until election day. In addition, the requests for absentee ballots had already surpassed 2016 levels in nearly every state by the end of September, according to The Washington Post. What does this mean for you as an investor? We would argue that short-term uncertainty means very little for those with a long-term approach. We would encourage you to stay the course, as this too shall pass. If you have questions or concerns about the election, please give us a call at 615.370.4040. 

  
  

• “I, Pencil,”

  How do you make a pencil? The item seems so simple, but have you ever considered the necessary steps, jobs, and ingredients that go into producing an object we use every day? This week, we've been reminded of Leonard E. Read's essay, "I, Pencil,", which was first published in 1958. As Milton Friedman described, the essay clearly illustrates the meaning of Adam Smith's invisible hand and Friedrich Hayek's emphasis on dispersed knowledge and the role of the price system in communicating information that "will make individuals do the desirable things without having to tell them what to do." We encourage you to read the piece here. 

   

• Historical Fourth Quarter Returns

  As we alluded to earlier in The Bullet Points, the election, the coronavirus' path, and stimulus gridlock all provide uncertainty moving forward. With that being said, the S&P sees an average gain of 3.9% in the fourth quarter, which makes it the strongest quarter of the year. As of Wednesday's close, the S&P 500 is already up 2.16% during the fourth quarter, according to the Wall Street Journal. While past performance does not guarantee future results, we would encourage you to stick to your plan. We would love to discuss this further if you have any questions or concerns.

• The U.S. Department of Justice Sues Google

  As we alluded to earlier in The Bullet Points, the election, the coronavirus' path, and stimulus gridlock all provide uncertainty moving forward. With that being said, the S&P sees an average gain of 3.9% in the fourth quarter, which makes it the strongest quarter of the year. As of Wednesday's close, the S&P 500 is already up 2.16% during the fourth quarter, according to the Wall Street Journal. While past performance does not guarentee future results, we would encourage you to stick to your plan. We would love to discuss this further if you have any questions or concerns.

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. 

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