The Volatility Continues

By September 1, 2015Uncategorized

Stocks fell sharply today, giving back some of the gains of the prior several trading sessions.  As noted in prior comments, we believe that a bottoming process to the current stock market correction will take time, and be volatile.  Today’s market close stands about halfway between the August 25 low (1867 on the S&P 500) and the August 28 recovery high (1994 on the S&P 500).  We continue to believe that the best approach to counter a hostile market environment is to 1) focus on the long run, and 2)  look for opportunities to allocate capital to great companies at attractive valuation levels.  We believe a retest of 1867 is likely, but we remain constructive on the long-term outlook for U.S. equities.

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