a life well planned is a life well lived
The Captain’s Log Winter 2020
Dancing into 2021 As we steam rapidly towards the conclusion of 2020, it pains me to acknowledge the likelihood this year that we will miss our joyous, global New Year’s Eve celebrations. With our accelerating lockdowns and worsening COVID-19 counts, there will be no large crowds and no festive dancing in the streets as we celebrate the annual flipping of the calendar. If there ever was a year to dance away from, 2020 certainly wins the spectacular mirror-ball award. Today, gazing into the crystal ball of 2021, we are overcome by the continuous challenges, grey clouds, and economic difficulties which are all trying desperately to define the coming twelve months. However, through the cracks in the ball’s surface and through the fog of confusion, some of us are beginning to acknowledge the shimmering rays of hope which, if presented under the right conditions, might deliver the acroamatic expectations of social and economic optimism. With
just a little luck and some good science, we might just find ourselves strolling into 2021 towards vaccines, community tolerances, medical break throughs, and ultimately a stronger sense of national unity. The financial markets, an accumulator of all current and future soundings, are quietly suggesting to investors that it might be time to break-out the old clogs and prepare for some unexpected dancing down 2021 Street. As we navigate towards the rapidly approaching next phase of America’s ongoing political and social experiment, we are uncovering legitimate reasons to become optimistic about our approaching year’s economic and investment opportunities. Extremely low interest rates, potential for an additional wave of economic stimulus, settling of the Presidential election, and the contiguous development and distribution of a vaccine have all converged to (continued on page 3)