Our Latest Thinking.
You can find our thoughts on world events, trends and happenings and its pertinent impact on the economy and financial markets here.
We will share our perspective on the past, opinions on the future, and any potential plans to action against our insights.
The world largely seems to be moving towards accepting life with COVID, understanding that full eradication of the virus seems unlikely in the near future. The vast majority have come to understand both the risks of the virus(es) and the benefits of vaccinations. In addition, people have adapted to the ongoing measures intended to curb rates of infection, which is likely to be the norm going forward.
How does this tie into the markets, and James Bond?
The big “new” thing in investing in the last few years and which shot to prominence during COVID—is “sustainable” or “ESG” investing (environmental, social, and governance investing). The premise is straightforward: companies have avoided shouldering the costs of their negative impacts on society, on the environment, and on various stakeholders and now the bill is coming due. In many ways, the trend is not new at all … So, what does all of this mean for us and you?
A Special Thank You!
Lee, Turner & Associates Inc. celebrated its 30th anniversary this past June.
When we reflected on these years passed, it is you – our clients that came to mind first and foremost. You put us where we are today. You gave us your trust and confidence, unwavering support, and warm friendship. We are truly grateful!
Thank you very, very much. We look forward to being of service to you and your families for many more years to come.
Lee Turner & Associates entered its 31st year in June and while we paused to celebrate the anniversary, markets continued where they left off last quarter. We noted at the time how investors were obsessing over several binaries—re-openings versus shutdowns, variants versus vaccines, inflation versus unemployment, cyclical versus growth, and finally, young traders versus old investors. These tensions came no closer to being decided and in many cases, intensified. While the securities we invest in continued to climb alongside the market during the quarter, we are keenly aware that volatility tends to accompany such rises.
An epic battle between the ages was waged in the stock market over the past months, and it was one for the ages. Young amateur investors, those in their early to mid-twenties, were looking to squeeze profits out of old veteran professional investors by trading stocks against them. The premise of the young set was to unite an army of traders to take on and profit from the old guys. That army’s strategy was to pool their knowledge, through social media and online forums, and then pool their capital to buy, en masse, the shares of financially distressed companies with the view of forcing the old guys to buy those same shares off them later, but at higher prices. Sounds like a plan.
What a wild, wacky, and wonderful (?) year 2020 was! Indeed, from the financial markets’ perspective, the past year held more than its fair share of extreme volatility, strange twists in consumer behaviorism, and rewarding investment returns. In early March, a tiniest of lifeforms on earth, the COVID-19 virus, grew huge in notoriety to become the biggest news story in the world. The speed at which the virus was spreading panicked global economies into lockdowns and seeded the steepest economic downturn of all time. But swift and massive public policy responses halted the economies’ dive and spurred on a recovery so fast that the short-lived recession is now on record as the shortest ever.