Topic: How To Invest

What is Pat’s commentary for the week of December 13, 2016

Article Excerpt

Dear Inner Circle member, Let me give you a short overview of how my market outlook has changed since the recent U.S. Presidential election. Before the election, I assumed, like most observers, that Hillary Clinton was sure to win. I took her at her word that she would “build on the Obama legacy.” To me that means that she would continue to raise taxes, and continue to add to regulation of the economy and business. As I’ve said before, I blame these uncertainty-provoking policies for the slow economic growth of the past eight years. Since 2009, the U.S. has gone through its weakest post-recession economic recovery since the 1930s depression. However, I expected interest rates to stay low, due to the weak economic outlook and to central-bank activity aimed at holding rates down. This meant that stocks would continue to offer a better deal than bonds to investors. I expected the economy would keep on growing, though at a sluggish pace. This would…

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