“A Note on Markets, Perspective, and Gratitude”

As we approach Thanksgiving, a time for family, reflection, and gratitude, it’s also a time when many of us naturally take stock of our financial lives. The financial news headlines have been hard to ignore lately, and I wanted to reach out to offer some perspective on the current market environment.

Navigating Today’s Market Concerns

The market has certainly seen its share of volatility this November, a continuation of the kind of choppiness we’ve seen throughout the year. The primary concerns we are hearing from clients and seeing across the financial landscape revolve around a few key areas:

• Market Concentration: Much of the recent market strength has been heavily concentrated in a handful of major technology and AI-related stocks. This has led to concerns about the overall health of the broader market, as many other sectors and smaller companies have lagged behind. A potential “overbought” scenario in one area can create turbulence for the entire index.
• Interest Rate and Economic Uncertainty: While there is a general consensus that the Federal Reserve may be nearing the end of any rate-cutting cycle, the exact timing and the future path of the economy remain a source of uncertainty. This “Fed Fog” can lead to cautious trading and abrupt market swings.
• Valuation Concerns: The rapid rise in some segments of the market has raised questions about whether valuations are sustainable, especially if the economic growth they are pricing in doesn’t materialize as quickly as hoped.

It’s completely normal to feel uneasy when you see your portfolio fluctuate against a backdrop of negative headlines. However, this is precisely when your financial plan matters most.

The Enduring Power of a Long-Term View

For long-term investors, the best approach to market volatility is often the simplest: stay the course.

The financial markets have faced countless challenges throughout history—wars, pandemics, bubbles, and economic crises—yet over the long run, they have consistently shown resilience and an upward trajectory. Trying to perfectly time the market by jumping in and out is almost impossible and often leads to missing the best days of recovery, which can drastically reduce your overall returns.

Your investment strategy, which we carefully designed together, is built to withstand periods like this. It is diversified across different asset classes, sectors, and geographies, ensuring that no single event or theme can sink your entire portfolio. For many of you, Dollar-Cost Averaging—investing a consistent amount regularly—is helping you buy more shares when prices are lower, a powerful strategy for long-term growth.

Our focus remains on your goals—your retirement date, your long-term goals, your legacy. These are long-term milestones that short-term volatility should not derail.

Focusing on Gratitude This Week

As we have sat down with friends and family this week lets embrace the spirit of Thanksgiving. No matter the short-term fluctuations in our investment accounts, we have so much to be thankful for: our health, our families, our communities, and so much more.

Take this holiday to unplug from the constant news cycle. Remember that true wealth is measured not just by account balances, but by the quality of life we lead and the people we share it with.

We are grateful for your continued trust and we are here to talk through any concerns you may have.

Happy Thanksgiving to you and yours.