Party time update – 1am

It feels like it’s somewhere between Midnight and 1am at the current S&P 500 party.

While my work and analysis suggests reasonable probability that the party continues, I remind myself……

that the most fun happens between 1am and 3am. It is also when accidents happen and mistakes are made.

There is a time to start thinking about going home.

And so, for clients for whom I help oversee larger amounts of their assets, I am advising them that it’s prudent to have disproportionate and perhaps substantial percentage of their balance sheet in cash or cash equivalents………in order to go shopping at a later date.