President
Joe Biden signed a $1.9 trillion coronavirus relief package into law Thursday afternoon. The plan will send direct payments of up to $1,400 to most Americans, and will also put nearly $20 billion into Covid-19 vaccinations and $350 billion into state, local and tribal relief. The White House said Thursday that stimulus checks could start hitting bank accounts this weekend. The stimulus is beating the virus at least as far as the market is concerned, said Scott Ladner, chief investment officer at Horizon Investments. And real rates being near negative is just historically a very strong tailwind for asset prices. That can get ignored on a day-to-day basis especially when people become concerned that inflation is going to rear its head, but at the end of the day, inflation is just coming back to normal.
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Allaria: Market outlook for 2021, and why you shouldn t invest accordingly
Joe Allaria Wealth Advisor
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Allaria
The beginning of every new year causes investment advisors and other financial “experts” to start releasing their market predictions for the upcoming twelve months. Many investors listen and may even adjust their investments accordingly. However, these “expert” predictions are frequently and sometimes drastically wrong.
So, before you put too much “stock” into the predictions swirling around about 2021, let’s take a look back at what these market analysts had to say about 2020, and how those predictions turned out.
Getting It Wrong on 2020 Outlooks
According to a Financial Advisor IQ article, Darrell Cronk, the President of Wells Fargo’s Investment Institute and Chief Investment Officer for the Bank’s Wealth Management Unit, said Wells Fargo did not believe a recession would happen in 2020.1 He also mentioned in an outlook publish
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