Written by Dave Young, President & Founder of Paragon Wealth Management
I recently returned from a trip to the Dominican Republic. The trip was for a group of 30 entrepreneurs and their wives who were graduates of BYU.
The trip was great. It was a chance to get out of the cold. It was good to network with an upbeat, successful group of people. The days were nice, sitting on the beach, listening to the waves and enjoying the sun.
In retrospect, it reminds me of the stock market the past few months. There has been very mild back and forth movement within a general uptrend. All in all, it has been a good time to be invested.
About midweek, I was involved in a beach volleyball game. Everything was going great until this guy from Russia wearing a Speedo decided to go for the ball in the zone I was covering. He hit me full force with his shoulder going into my left lower ribcage. Both of us ended up out of bounds on the ground - with me getting the worst of it - with two broken ribs.
That sudden change of events kind of put a damper on the trip. Much like market sell-offs put a damper on nice market up-trends.
The moral of the story is to never be complacent. When investing -especially when times are good- we are always looking over our shoulder and preparing for the next bad thing that might happen. They say the best traders are somewhat paranoid. When investing, hope for the best but prepare for the worst. When in the Dominican Republic - watch out for that Russian in a Speedo...
Paragon Wealth Management is a provider of managed portfolios for individuals and institutions. Although the information included in this report has been obtained from sources Paragon believes to be reliable, we do not guarantee its accuracy. All opinions and estimates included in this report constitute the judgment as of the dates indicated and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Past performance is not a guarantee of future results.