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Halftime Update 2021

Ah yes…it must be July.  Roger Federer is tending to the grass of Wimbledon.  That guy with three fingers and one eye is selling fireworks again in the parking lot of the Shell station.  And there’s only 178 shopping days left until Christmas.

And the unemployment rate is falling.  In Missouri and 21 other states where they’re cutting extended unemployment benefits and juiced up payments…surprise…more people are getting jobs.  

But of course, Dr Fauci and the CDC say that’s just a coincidence.  And to wear four masks this summer to mitigate sunburns.

Okay, the Fauci commentary is fake.

But this is the real deal.  The market hitting new all-time records in June.  An uptick in hiring, climbing consumer spending, and increasing confidence from small-business owners fueling the rise.

The Dow, the darling of financial media and blue-chip groupies, slips a skosh.  Despite being May’s top performer, the Dow turned into June’s slacker.   For the year the Dow looks 13-percent better.

The Standard & Poors 500 picks up two in June and sits 14-percent higher than where it started the year.

May’s laggard, NASDAQ,  finishing June the winner, up 5.5-percent for the month and a dozen better year to date.

And the little guy, Russell 2k, only scores two for the month, but leads the year to date scorecard at nearly 18-percent.

Did I just make another case for diversification.  I think so.  Because nobody knows what the market will do in the future.  Not even the so called experts espousing their theories on mainstream media as if they were financial weathermen.  

Did any of them predict last year’s bear market or the great rebound ahead of time.  I think not.  

Remember, you’re an investor, not a trader of speculator.  You don’t do market timing or economic forecasting.  

After all, the only function of economic forecasting is to make astrology look respectable.