There is always something

I was totally frustrated yesterday afternoon as I watched the dysfunctional political system. This play by play account of useless negotiations over laws and expenditures that have already passed and been spent seems like a huge waste of time. I am most disgusted with the American voter that put these guys in office in the first place.

Looks like Halloween is arriving early this month and October volatility is in place. Over these last 15 years, investors have been whipsawed and the headlines have done nothing but send them down the wrong path. Most money managers are still looking for the Black Swans, but I am looking for sunshine.

Consumer sentiment has a direct effect on the markets. We have spent almost six years with consumer sentiment under the “80” level. This is a rare occurrence over the last 50 years and the results of this fear have produced a massive bull market.

  • The S&P is up 2189% since 1974 and up 1,305% since 1982.
  • Midcap companies that are measured by the S&P 400 are up 3281% since 1982.
  • For 2014 S&P 500 earnings expectation of 112.94, which is up 11.3% for this year, and another 10.1% increase in 2015 to 135.40

Corporations are in the best financial condition since the seventies. The economy even lackluster is improving. So yes, I am bullish but I always am aware of risk and manage to it. I would enjoy a pullback here so I can put more money to work but the herd-sync may take a different turn.

Bill

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About billriley

Chief Executive Officer, Chief Compliance Officer A co-founder and shareholder, William Riley is a 33 year industry veteran, who observed, many years ago, that over time institutional investors typically outperform individual investors while accepting less risk. In his role as Chief Executive Officer, Bill works tirelessly to make the wealth management strategies used by the world’s wealthiest families and largest institutions available to our firm’s individual clients. Bill combines fundamental and technical analysis to minimize investment portfolio risk and maximize potential returns. He uses a variety of non-correlated asset classes, including alternative investments, to minimize portfolio volatility and seek absolute returns in down or flat markets. Finally, Bill believes in a comprehensive approach to wealth management that fully coordinates and seamlessly integrates portfolio management, risk management and asset protection, trust, estate, tax and charitable planning. Prior to co-founding Riley Wealth Management ,LLC, Bill held management positions at Merrill Lynch, UBS, Raymond James, Paine Webber and J.C. Bradford. Bill founded Fort Worth branches for Raymond James and J.C. Bradford. Prior to entering the financial services industry, Bill ran his families closely held businesses. Bill’s experience operating family businesses combined with his wealth management experience makes him uniquely qualified to advise entrepreneurs and business owners on a variety of matters including complex and sensitive issues relating to business succession. Bill’s degrees and designations included a Masters Degree in Business Administration (MBA), the Chartered Financial Consultant designation (ChFC), the Chartered Life Underwriter designation (CLU) and the Wealth Management Specialist designation (WMS). A Fort Worth native, Bill is a TCU alum and active in many civic and charitable organizations. Bill and his wife, Marsha, now reside in Colleyville, and they have four grown children and four grandchildren. When he is not working on portfolios or studying financial markets, Bill can be found on the golf courses of Ridglea Country Club.
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