October was brutal, wasn’t it? All the indexes we follow were down between 5 and 11%. Why the big drop? Many believe that increasing interest rates are drawing money from the stock market, causing the market to retreat. Others believe it’s been the uncertainty of the election outcome. Whatever the reason(s), the market is down, taking away virtually all the gains made this year. While the S&P 500 was up to double digit returns at the end of last month, at the end of October it was barely up one percent. That’s the way it works. Over time, however, the stock market has always done well. With the stock market down so hard in October, we have sought to have more client meetings. Most of the time, clients don’t need much communication with us when their accounts are climbing pretty well. It’s only when they are falling do people get anxious and need to hear from us. The question I ask many people is, “if you invested $100,000 and it turned into $200,000, but then went back down to $150,000, would you be happy about the $50,000 you made, or upset over the $50,000 you lost?” Most humans are wired to concentrate on the loss rather than enjoy the gain. So when you get that call from Pamela, make sure you answer the phone so she can schedule a time for a meeting for us to catch you up on all that we’re doing to mitigate your market risk.