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May Update - Where do we go from here?

Welcome to June. Markets have certainly come back and 'settled'. It appears I'm back to just monthly emails with volatility decreased. Here are the May and year-to-date numbers. Happy to discuss should you have any questions. Stay well and keep walking!

Where do we go from here?

John Authors of Bloomberg tells us charts and history say onward and upward!

Investors seem now to be convinced that this crash, with its unique external shock followed by its uniquely aggressive policy response, is different. Looking within the market, we similarly see that the recovery has broadened in the last week or so, so that the great majority of stocks in the S&P 500 are now above their 50-day moving average. The hurtling downward descent has been decisively arrested...

It is possible that the markets are wrong, of course, but the internal dynamics show that investors are positioned as we would classically expect them to be if there was broad confidence of growth ahead. There is genuine belief that the market can go further. It would be unwise to ignore this. Absent significant negative developments in the real world, such as a second wave of the virus or a further deterioration in Sino-American relations, there is now genuine momentum pushing the market higher. In the last week, a tipping point in confidence has been reached. Now to see if the real world will justify that confidence. 

But even more is coming back!

The National Hockey League announced a plan to finish its virus-shortened season. The top 24 teams will compete in a round-robin playoff, likely hosted in empty arenas in two cities.

Can you name the FANGS? FAANGS? Do you even know what they are?

But the acronymsters couldn’t stop with just the FANGs. Apple Inc. and Microsoft Corp., even if they started in an earlier generation of tech, plainly belonged in their company. So, arguably, does the phenomenally successfully Nvidia. So this gives us the FANGMANs. And the seven FANGMAN stocks surpassed $6 trillion in market cap for the first time this month. Still don't know them? Google has the answer.

Dying without a will...not the best idea

I'm not a lawyer but any lawyer would be aghast if they found out someone didn't have a will. And because I sell life insurance the topic comes up quite often. Here's an example of what might happen should you die without a will. The money doesn't all go to the spouse, the two children combined actually receive more than the spouse! Great if you are the kids but I don't think your spouse would be happy!

Janice passes away with $1,000,000 of assets & no will

• Janice has a spouse (Joe) and 2 children (Jack & Jill)

Estate $1,000,000 Jill $266,667 Jack $266,667 Joe $466,666

And some random happenings over the last few weeks

Always available for questions and reviews. Stay safe and sane! james hargan BA EPC | life insurance and investments | equity associates inc. | 416.903.9078


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