As if the year 2020 wasn't interesting enough for markets, the GameStop and Reddit frenzy made for a unique start to 2021.
Many of you already know this, but on December 12th I got married to my husband, Nate. We had a beautiful, snowy wedding day, intimate in that only 15 people were present (originally the guest list was much larger, but as we all know, COVID threw a wrench in our 2020 plans), but Nate and I tell everyone now that a smaller wedding was the kind of wedding we never knew we wanted. It was a perfect day.
Wildfires throughout California last year bedeviled that state's utility companies. Unable to adapt their power grids, utilities forced upon their customers brown-outs and shut downs of the sort usually reserved for third-world countries. Fires caused by under-maintained systems resulted in deaths and massive loss of property. Some folks made political hay from California's woes. After-all, so many of their problems seemed self-inflicted. An environment first mentality combined with an underinvestment in traditional generation facilities brought the Hollywood and Tech crowd down. California's Eco-Capitalism was seen by many as just another failed attempt at social engineering.
Let’s talk about presidents, but let’s not talk politics…. please.
Over the last 35 years spent in the investment business, I’ve had the pleasure of working with a lot of young people. Two thoughts I often find myself sharing with them are these; First, remember that the most important year of your career will not be this year, but rather next year, and that anything you do this year should be with an eye on making next year not just possible, but better. Second, we are engaged in not just an honorable profession, but an incredibly interesting and challenging one. Any financial advisor who would bother to keep a daily journal for any one year would have material for a pretty fair novel.
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