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 Fall Newsletter

The old adage that the days are long but the years are short always permeates this time of year.  It’s hard to believe that the holiday season is almost upon us, and as we get older each year does seem to become shorter.  Andrew’s 87 year old father jokes that he doesn’t even buy green bananas anymore.

Anyway, 2023 has certainly been an interesting year both in the world and in the markets.  It does seem like each year has something else in store, but this has been the case since the beginning of modern investing.  Multiple wars, a depression, countless recessions, a dot com bubble, black Friday and of course a pandemic.  For all of those times there have also been many time periods of robust performance.  The goal for us at Regal has always been to navigate the bad times by minimizing losses so that recovery is easier during good times. 

Last year was a difficult environment for not only equities but also bond markets.  In fact, many bond classes have been down for multiple years.  However, in 2023 we had expected more of a recovery than we have experienced. With that said, our clients have certainly benefitted from the higher yield in the marketplace with regard to bonds, CDs and Treasuries.  Our position is that we continue to collect yield in our portfolios while we wait for recovery.

There have been other time periods where the government has had to fight inflation.  In the 1970s there was a big inflationary push, and the government stopped its fight against inflation too early.  The result was massive inflation and interest rates in the double digits. There may actually be a few people reading this newsletter that had a 14% mortgage rate.  It seems counter intuitive to try and slow down an economy but sometimes it’s necessary to make sure people can afford to live.

There are many factors that will play into a market recovery over the next few years. Interest rates have certainly risen to the forefront, but recent political events could also play a role in market volatility and recovery.  It is always important to keep an eye on your risk tolerance and asset allocation.  If you would like to schedule a time to review further, please reach out to your advisor to set a time.

The holiday season is a time of family and thankfulness.  At Regal, we are thankful for the family we have built both in house, and with our clients.  We appreciate the trust that every one of you puts in us to help navigate your financial future.  We wish you a happy Thanksgiving, happy holidays and of course a happy, healthy and prosperous  new year.

Best Wishes, 

Regal Wealth Advisors

At Regal Wealth Advisors, you can benefit from the personalized service provided by experienced financial planning professionals

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