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Erin’s Monday Morning Quarterbacking
How it started.
How it’s going.
I bet you didn’t think Matt Damon would ever secure a place in market history.
- The “laser eyes” are few and far between these days, and nobody has told me to “have fun being poor” in months. For the uninitiated: crypto enthusiasts photoshop “laser eyes” on to their Twitter profile pictures to signify their unwavering bullishness. And “have fun being poor” is used as a dig towards people who have yet to invest in crypto.
- There’s a billboard in Austin that reads: “Crypto is annoying until it’s inspiring.” Brought to you by a website called “cryptoisreal” dot com.
I’ll let you know when that billboard comes down. That’s probably as good an indicator as any as it pertains to market direction for risk. I know we talk ad nauseum about trend but sometimes sentiment is just as valuable.
Snark aside, this environment has been tough. What started in crypto has spilled over into stocks. And not even blue chips like Target and Walmart are safe. It’s in these environments where portfolio managers become therapists, and it’s in these environments where investors earn their long-term returns in the stock market.
Dave will be out with a longer blog and more thoughts as it relates to the probability of a recession and the current market sell-off tomorrow (we try not to send out two blogs on the same day).
Our next monthly portfolio rebalance is after Memorial Day, so Monument clients should stay tuned for my longer-form client-only update after that is completed. Until then, be well and shoot me an email if you have any questions, need an ear to listen, or some additional thoughts.
Until then remember Dave’s sage advice to “stick with the portfolio you need versus the portfolio you wished you had.”
-Erin
Erin M. Hay, CFA
Private Wealth Advisor, Portfolio Manager
A graduate of the University of Oklahoma, Erin began his investment management career with J.P. Morgan Private Bank. There, he worked with portfolio managers, traders and asset class specialists to bring tailored investment solutions to his team’s high net worth clients. However, intellectual curiosity would dictate both a change in geography and job description.
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