Out of the night that covers me,
In the fell clutch of circumstance
Beyond this place of wrath and tears
It matters not how strait the gate,
, by William Ernest Henley
Capital preservation remains central when approaching today’s capital markets. Still, record-low interest rates continue to serve as manna from heaven. Inflation remains in check. Earnings remain solid. And, not that we’re promoting it, but there are still rumors of further quantitative easing. Any such announcement would send equities markedly higher.
While economic growth will not impress, equities ebbed enough in 2008 to merit further upside. Current valuations support this possibility.
Some analysts feel that stocks are poised for a once-in-a-generation run. This year? Next? Three year out? Nobody knows. But now is not the time for indecisiveness or lack of process.
Today’s road to financial autonomy is difficult. Obstacles are many. One should not have to worry about fast-talking politicians and brokers standing in the way.