View from the Chair: Windermere's Market Outlook (June 2016)

"Strong opinions, loosely held."  This was a quote I recently heard from famed Silicon Valley investor and icon Marc Andreesen in a podcast conducted by Tim Ferriss.    The point Marc was making is that you have to believe in your ideas and your process - but not be so wedded to anything that you cannot see changes and fact patterns that necessitate a pivot or a movement in another direction.

The minute I heard this quote, I realized how well it applies to markets and investing.  We at Windermere, like countless other investors, have our views on the world, the economy, surrounding events - and what we see all that meaning for your money.  Conviction is important. Not reacting to every headline matters.  Staying the course is a sound strategy again and again.  

However, this quote reminded me that it is equally important to be willing and able to pivot.  Unforeseen events occur.  Industries are disrupted.  Political races take unexpected turns.  In short, life is happening around us (and the markets) and we must be willing to adjust our thinking.

Following is a summary of market returns for May.  Overall, markets have recovered nicely from a trying start in 2016 and are mostly positive for the year.  (click on image to enlarge it)

So where do we go from here?  What opinions are we currently holding onto strongly (but yet willing to consider other view points and adjust as needed)?  We look forward to seeing you soon and discussing just that!  We'd love to hear your thoughts as well on this quote and idea.