Week of 3/30/2023

Just like that, the first quarter of 2023 is over. We asked ChatGPT to provide a haiku on a topic we thought was appropriate for the time: Through life's trials and tests, Perseverance proves our strength, We emerge wiser. We once learned a helpful definition of wisdom: the correct application of knowledge. What do we know? We know that our personal goals and needs should continue to be the overriding factor for our investment choices. Difficult periods, like this one, are nothing new and we believe will continue to be temporary and necessary parts of a functioning market.

Looking past recent volatility, Brad McMillan explains why concerns about a bank-driven financial crisis are overstated. Convenient air taxis, using electric power, may be coming to Chicago to provide transport between O’Hare Airport and a location near downtown. It would cut the trip from 45 minutes to 10. In proof that there is no honor among hitmen, a murder contract was sold and resold until the 5th(!) hitman told the police. There is a $3.5 billion overstatement in the South Carolina state cash balance that cannot be clearly explained by the comptroller, who has served in that role for over 2 decades. Accounting issues aren’t limited to public companies.

Q: What are the consequences of the Fed’s recent rate increase? A: JP Morgan’s David Kelly has a great explanation of what it might mean for the economy: continued recession risk and the Fed’s own expectation for lower growth and higher unemployment. There is disagreement about whether the Fed needs to continue tightening, with continued high inflation (they stop too soon) or a recession (they go too far) both causing problems for many Americans. We expect that we will get some better answers to these questions in the next 6 months.

‌ ‌ ‌ Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990 Lowry Financial Advisors is the only advisory firm that helps its clients reach their goals through The Achieving Simplicity® Experience™, providing clarity and confidence in their personal and financial lives.