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    Volatility Reports 6/28/23

    June 28, 2023

June 28, 2023

Volatility Reports 6/28/23

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Boomers Got Hooked on Stocks.

Now They Can’t Let Go.

Two-thirds of U.S. adults aged sixty-five and older have money in stocks

“Nearly two-thirds of U.S. adults aged 65 and older own equity—up from roughly half of Americans in the same age cohort before the 2008 financial crisis. Conventional financial wisdom suggests investors should rotate from risk assets such as stocks into havens such as bonds as they age. And with rates having risen rapidly since last year, bonds and cash look more attractive than they have in a long time.”

Yet many older Americans say they aren’t ready to part ways with their stock-market bets.  the numbers from SJ and seen in a Gallup survey of U.S. Stock Ownership.  https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx

They have been warned.

But like a hammer hitting them on the head repeatedly with the same old quote and verse after a while it falls on deft ears. It’s like Aesop’s fable, ‘The Boy Who Cried Wolf,’ teaches a timeless moral lesson: don’t ‘cry wolf. ” After a while people won’t believe you when something bad is going to happen; they will lose their trust.

I proctored behavioral studies that prove this commonsense precept. But that is the market we live in today and the Truth will find you through Volatility. If you are married or in a partnership you understand.

Since 2018, the last time a meaningful bear was expected market timing and bearish calls are only the domain of the disenfranchised new kids looking for the great opportunities like I had at Dow 587 and throughout the 1970’s or early1990s or 2001, 2009, 2011, 2020. But all the buying opportunities happened after a period of “not so much fun.”  Hey, I haven’t made up the rules, and the rules have not changed.

So, you get it I am sure, the problem is when the boomers (the wiser and more experienced segment) stop hearing substantial risk get out, the hammering will have stopped, and it will feel so good. But, at that point it’s too late. What do you think will happen? What magic indicator do you think will set them off protecting their wealth?

Generations defined by name, birth year, and ages in 2023
GenerationsBornCurrent Ages
Gen Z1997 – 201211 – 26
Millennials1981 – 199627 – 42
Gen X1965 – 198043 – 58
Boomers II (a/k/a Generation Jones)*1955 – 196459 – 68

According to the bulls, especially the big self-promoting bullish ones, “This is what is important to always remember. Stocks go up and they go down.  If you want to get some good deals, you need to buy when they are lower.” What?

The problem is they are always talking the market up, and implicitly are not buying here after a 20% rally. They cry bloody murder after a 5% correction and after a 20% dip they go back under their rock when in their words, the market is, not “fun.”  I am paid to observe I could not make this up and I never drop their names.

When you see a great deal I would take it, Country Thinker takes care of its own and no one does timing better. 

Special 45-day full service for only $99.

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Great and Many Thanks,

Jack F. Cahn, CMT

Contrary Thinker since 1989,
Copyright 1989-2023

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