It looked like the sky was falling. On Friday the 24th, European markets dropped nearly 11 percent*. That same day, the S&P 500 dropped about 3.6 percent*. And the following Monday the 27th, it was more of the same.
But here we sit a week later, and we’ve seen a stabilization in the markets, and four straight days of positive returns. And as of mid-day today, we’re up again.
Our portfolios rode out this volatility very well. We did not make any changes because none were necessary. Our disciplined, diversified investment strategy is designed to cushion volatility. We will continue to keep an eye out for opportunities that might arise, but for now, we’re happy to maintain course.
The New York Times had a good article this morning using the Whac-A-Mole game as an analogy for financial management and trying to trade and beat the market. It’s worth a read.
Finally, the Krull & Company team would like to wish everyone a happy and safe 4th of July Holiday weekend!
*as measured by iShares Europe ETF, IEV; S&P 500 ETF, SPY