Client Portals
Getting Older? Getting Wiser!

Getting Older? Getting Wiser!

Getting older? Getting wiser!


We all hope that is true in our personal lives. But how do we translate that into our financial lives?


The older we get, the more truth there is to the famous lyrics in “September Song.” I haven’t got time for the waiting game.” For all you rockers out there, click here to hear this funky version by James Brown!


Oh, it’s a long, long while from May to December. But the days grow short when you reach September. When the autumn weather turns the leaves to flame. One hasn’t got time for the waiting game.


Those were the thoughts of the Waddell & Associates investment committee back in mid-August when we initiated a hedging strategy in all our client accounts that have exposure to the equity markets. And as our clients know, our money is invested in the same strategy as your money.


What changed in our portfolios?


We strategically reduced our exposure to global equities & replaced those positions with funds that have the potential to rise when equity markets are falling. Our first step was to reduce equity exposure by 10% in recognition of an aging bull market where risks can outweigh rewards. Limiting our upside a little in order to protect against the downside.


Time will tell if this is the only step or the beginning of a more defensive stance.


To quote my 1Q19 client letter: How much runway do we have left? 


Since 1926, three of the 11 bull markets have exceeded the length of this current bull market in duration, total return & annualized return. So, theoretically, there could be more runway ahead. But will the landing be soft or hard?


No matter where we are in the stock market cycle, or where you are in your personal life cycle, you can count on W&A as your wealth manager to strategize for the future with you & your family.


Phyllis R. Scruggs

Phyllis R. Scruggs

Senior Vice President Senior Wealth Strategist