World Investor Week 2024

My son, Carter, turns 10 years old on October 29th. Although by my figuring that doesn’t need to be a cause for stress, my wife would not agree with me. So, I too try my best to frantically go about tracking down invitees’ addresses, stamping RSVPs, arranging for the cake pick-up time, and preparing the house for the assault his three cousins from Charleston will soon visit upon us. I am fulfilling my responsibilities with love and excitement, but there is also a nagging regret and guilt for allowing those 10 years to go by so quickly. I can at least do my best to make up in part for any lost time, by joining the typhoon of children as they bowl, play laser tag, and play video games.
 
Another birthday that has recently been all over the news is the two-year birthday of the current Bull Market. Since the bottom of the last bear market in October of 2022, the S&P 500 index is up in price by a little over 60%. I know people wonder how long the good times can continue. If we wanted to compare using statistics, the average bull market lasts about five-and-a-half years and has an average return of close to 180%. Despite those figures, current valuations are stretched for much of the index (companies are expensive by historical comparison), but earnings have been very strong, and large growth in earnings is still expected throughout 2025. Any big negative event could cause a market decline, such as a hard landing for the economy (recession), a return of inflation, or further escalation in the warring countries around the world, but the current U.S. economic fundamentals are still quite strong.

I am going to cheat a bit this month in my writing and use the rest of this letter to pass on some important information from elsewhere. I know you all may get bored of me preaching about the dangers of fraud these days, but the threat continues to snowball. Reported fraud in 2023 surpassed $10 billion dollars, and that is with an estimated many more cases going unreported. I am attaching a bulletin issued by a big conglomerate of U.S. watchdog organizations that was passed on to me from the Securities and Exchange Commission.
 
The bulletin is meant to make people aware of World Investor Week 2024. The International Organization of Securities Commissions (IOSCO) is the international group of securities regulators that regulates and sets standards for more than 95% of the world’s securities markets. 2024 marked their 8th year of hosting World Investor Week, which increases awareness about investor education and protection. This bulletin is a great summary of many of the most prominent techniques bad actors use when trying to get your money. You can follow the links listed if you’re curious and want additional information on any of the specific techniques.
 
Many of you call us when you get something fishy in your mail or email that doesn’t sound or look right, and we hope you continue to do so. We are happy to help ensure the security of your savings, as well as your peace of mind. I wish you all the best of luck in suffering through these final weeks before the election. I know we all have worries about the future, but things are usually much better than we fear. We all have more power than we give ourselves credit for in terms of making our lives good regardless of how the tea leaves fall.
 
Sincerely,
 
Justin Anderson