Mazzei Minute: 03/05/21
2021 is certainly off to another historic start. Americans were stunned by the tumult in our nation’s Capitol; a polar ice storm pushed temperatures below zero degrees across the Midwest, impacting access to power and water for millions of people; and COVID-19 deaths have sadly surpassed half a million.
Nevertheless, optimism is building as our state and country begin to get back off the mat. The COVID-19 vaccine, formulated and produced in record time, is reaching millions. Consumers are buying houses and spending money. Companies like Home Depot are reporting record revenue, and more stimulus dollars are on the way.
I love America! We remain resilient even after getting knocked down over and over again.
The stock market seems to recognize our fighting spirit and continues to set new highs amid expectations of strong economic growth ahead and rising corporate profits. We believe we are in the beginning stages of a new economic recovery and a new bull market that could have years left to run.
Hopefully you are participating in the current strong uptrend. There will be pullbacks and corrections, but enormous stimulus from both the Federal Reserve and the U.S. Government should light the fire of growth.
Well diversified and balanced portfolios are a good way to take advantage of higher prices and provide flexibility during market corrections. So stay warm and remain hopeful out there. Winter, in more ways than one, is almost over!