—as it did in 2013—it makes everyone feel pretty darn good, except maybe the prognosticators who got it wrong, the guys and gals who were bearish about 2013. It’s funny, but we don’t seem to remember those folks and hold them accountable; we tend to celebrate the predictors who get it right and forgive and forget the ones who get it wrong.
Our job is to keep customers on an even keel. If you have a good year, remind customers that every year won’t be good and that we are in a business of
In a given 10-year period (or whatever period), we are trying to earn an
of somewhere between 6% and 12%, depending on risk tolerance. In a 10-year period, we’d like to see seven or eight of those years positive, but we don’t control the
; we do the best we can, given the market and the situation, right?
I thought I’d go to a feel-good movie over the three-day holiday and selected
Saving Mr. Banks. It was a good flick, but I thought more sad than happy. I relied on the previews and got surprised. That can happen with investments, too.
Have a terrific week—the temperature was in the 60s in Tulsa this weekend, and so some cold weather during the week seems okay, yes? Remember to keep customer expectations at a realistic level. Still, I’ll hope for a good market week and good weather next weekend, too.