By Published On: January 17, 2024

Happy New Year!
There is a lot for us to look forward to in 2024 and a lot for us to be grateful for in 2023. The market challenges of the last few years seem to be largely behind us, and the once constant predictions of economic recession have not come to pass. Although the last two years have been challenging, the market returns of the last few months are encouraging. In fact, some global markets are flirting with the high-water mark they set approximately two years ago, while others have already passed those marks.

Looking ahead for 2024
I expect we will hear the media express concerns about two areas this year. The first is the upcoming
presidential election. Every election year comes with predictions that a vote for a particular candidate or party will be better or worse for the economy. The reality is that if we look at actual data, such as stock returns since 1926, stocks trend upwards regardless of who happens to be sleeping at 1600 Pennsylvania Avenue. Yes, presidents do have an impact on market returns, but so do many other factors such as the actions of other countries and their leaders, central bankers, corporate managers, commodity prices, and black swan events such as pandemics!

The other item I expect we’ll hear about in the media is inflation. Although the good news is that inflation is down, that just means that prices aren’t rising as fast as they were in 2021 and 2022. More to the point, prices are still higher than they were prior to the pandemic because of the inflation we have already experienced. The result is that all of us still feel the effects of inflation each and every time we go to the grocery store because some part of us is still anchored to the prices we paid for items pre-pandemic. This means we’ll likely still have discussions on inflation in the news for the coming months, but as we continue to adjust to our new normal, we’ll gradually move out of this phase too.

Coaching is Fun!
No doubt a few people reading this message can remember a time when I played rugby, way back in my college days. No doubt each of those people would be surprised to hear that I, a mediocre player at best, am now coaching a youth team. Teaching these kids a game, somehow I still remember enough to actually coach, has been a blast and I’m continuously amazed at how quickly they are picking up such an ‘alien’ game. It’s been an absolute blast!

Live Long and Prosper,

Dan Tobias, CFP®

Please note: The above is a copy of the 2023 Q4 Passport Wealth Management client newsletter attached to quarterly statements from January 2024. The newsletter is published to the website for informational purposes only and is not financial or investment advice. You should consult a CERTIFIED FINANCIAL PLANNER™ Professional for financial advice. 

Past performance may not be indicative of future results. Indexes are not available for direct investment. Investing involves risks, including the potential for loss of principal. There is no guarantee that markets will act as they have in the past or that any investment plan or strategy will be successful.

About the Author: Dan Tobias

Daniel Tobias of Passport Wealth Management Fee-Only Financial Planner in Cornelius, NC
Daniel Tobias is a CERTIFIED FINANCIAL PLANNER Professional and a Fee-Only Advisor. He owns Passport Wealth Management, a financial advising firm based in Cornelius, NC that works with clients across the globe. He helps individuals plan for retirement, manage investment portfolios, mitigate taxes, and secure their financial futures. With more than 10 years in the industry, Daniel has spoken nationally on financial planning practice management and has served on the National Association Personal Financial Advisors (NAPFA) South Regional Board. He resides with his family near Lake Norman in North Carolina where he enjoys mountain biking, hiking and travel.

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