Slaughter Continues for Common Stocks
By: Tim McPartland,
Our guess that markets would stabilize today was obviously wrong, but in the end it doesn’t make much difference to us. Last week we mused that maybe now was the time for the 20% correction that most of us have been waiting on for years–and with a little help from the Chinese it may in fact be now.
Today REITs are not escaping the knockdown as they are off almost a percent today, but utilities are hanging in there tough.
Our model portfolios and personal accounts are little moved–maybe 1/10th of a percent lower. It is nice to be positioned in mostly safe haven areas–as represented by the 2014/2015 Short/Medium Duration Portfolio.
Interest rates are again falling with the 10 year treasury now at 2.08%–is 2% just around the corner?
As we watch the current correction in stocks occur we are watching for bargains–maybe something will pop up. We have plenty of ‘dry powder’ to take advantage of a ‘bargain’.