Clients & Friends,
We are excited to share several updates as we head into tax season.
New Team Members
Please welcome our two newest team members- Brian Houts & Emily Snyder. Brian and Emily both have years of experience in the financial services industry and are eager to meet our family of clients.
Please contact us if you have not received your 2017 Tax Organizer. Many documents are available currently. 1099 statements from brokerage firms like Charles Schwab should be available around February 15th.
2017 was one of the most smooth and upward trending years in stock market history. US stock markets were up every month of the calendar year and, until recently, went over a year (404 days) without a 5% correction. Markets were up for good reason; earnings and economic growth are strong.
Corrections are a normal and appropriate part of markets. While it is not enjoyable to see one’s portfolio decline in value temporarily, corrections are a healthy part of markets. As of February 8th, we are experiencing a 10% correction which often happens every year. Perhaps counterintuitive, this correction has largely been caused by good data regarding wage growth for workers in the US.
After a strong 2017 and start to 2018 in January, many of our managers were holding more cash than usual; some as high as 20%.
Many of our managers have been using their cash the last week to buy stocks at better prices. If this correction extends beyond 10%, we anticipate making further rebalances to buy stocks at attractive prices. Please find below a video update from the Chairman of The Capital group which manages around $1.7 Trillion. Click here for additional insight into recent market events.
Please let us know if you have any specific questions about your investments before we speak with many of you during tax season. Thank you for the continued trust in our team and for the honor to assist your family with their finances.
James A. Frazier CPA, CFP®, M.TAX
Chief Executive Officer
Frazier Financial Advisors, LLC
6300 Frantz Rd. Dublin, OH 43017