All the great thinkers in performance competition will tell you that winning is arbitrary. That doesn’t mean we don’t still work toward success though; it means that success is achieved and measured in numerous ways, not by one win or loss. Doing our best is what matters. And of course, as we continue along the path of doing our best, our best shifts and becomes better and better. The path includes perseverance, time, and enjoyment. As the Kiwi Pair (undefeated in 69 consecutive races, including two Olympic golds) said in a recent interview “If you enjoy what you’re doing, it’s easier to work harder.” The comment we most often receive about Tu, pictured here after winning a blue medal at his first competition, “What a happy dog!”
It’s not just in competition that we aim to do our best and enjoy it; it’s across our personal and professional lives too. We enjoy our work at White Raven Financial; we spend our time and determination to get better and better at what we do – in how we help our clients, in our understanding of our ever-changing field, in our efficiency, and in our outcomes.
The outcome of the much-anticipated rate hike will surely be one of the major focuses of the media in December. Stay tuned. And if you have been looking at the statistics and market indices, you may have noticed that the proposed relief on corporate taxation has positively impacted small and mid-size companies. The U.S. economy appears relatively attractive when compared to the rest of the developed world, including China, according to Lord Abbett’s recent Economic Insights. For those interested in inflation, it appears that the average American paid less for their Thanksgiving meal this past year. The American Farm Bureau Federation determined that the average cost of a meal was down 24 cents from last year. Other good news from November: the U.S. manufacturing Purchasing Managers’ Index (PMI) came in at 53.2 an increase of 1.3 from October – that number anticipates strength in manufacturing over the next months.
The global financial environment, on the other hand, seems dominated by uncertainty. Political events in Europe, with a potential populist backlash, could challenge the continued stagnation and spark a rally. Alternatively, the status quo could endure bringing about continued global growth. Lord Abbett’s mid-November Economic Insights included discussion on how proposed fiscal policies and tariffs may affect global economies in the years going forward. It remains to be seen how the different countries will negotiate.
New highs and long winning streaks marked November as a ‘blue ribbon’ month for many of the major indices. The blue-chip barometer (the DowTR)* outperformed and added an impressive 5.88% for the month. The S&P 500 Index (SPXTR)* advanced 3.7% for the month and the tech-rich Nasdaq Composite (COMPTR)* continued the trend by adding 2.8%. The S&P Case-Shiller 20-city composite September Home Price Index came in with a 5.1% year-over-year gain – unchanged from August. Before seasonal adjustments, month-over-month data showed a fraction of a gain with the month of September posting a 0.1% increase over the month of August for the 20-city composite index.
Regards and Thank you,
The Team at White Raven Financial
*Indexes are unmanaged and do not reflect service fees, commissions, or taxes. You cannot invest directly in an index. Past performance is not necessarily indicative of future results. Returns for the DOW, S&P500 and the NASDAQ is the NAV total return provided by Morning Star as of 2016November30