Everyone arrived at 12:00noon today at Guido’s and had plenty of time to meet and greet and start their meal. At precisely 12:30, President Chris Gaynor, sharply rang the ship’s bell and we headed out into the rough sea I call Financial Advisors’ Predictions Day.
PP, AP Diane (the) Good led us briskly through the Flag Pledge, PP Ron Lyster shared some of his favorite investing quotes: (Buffet) Be Greedy when others are Fearful, and vice versa; Good investing is like watching paint dry; Many investors can tell you the Price of everything and the Value of nothing and, PP Admiral Edwin Gauld donned a German helmet of WWI vintage to lead us in his only Army Song: The Caissons go Rolling Along. Though a few of us served in the Army, none could remember ever singing that one. Sadly, the lyrics of the marching songs we did learn are all unprintable, though stirring.
PP Steve Scherer was called forward to direct our Predictions Day, but began with announcing, sadly, that PP Robert Wessling had passed on New Year’s Day. He was 85. Our thoughts go out to his family as we wait to hear about arrangements.
PP Steve then remembered the first WVRC Prediction Day in 1989, back when the Dow was 2700 (now 34,000). More recently, the Dow averaged over 9% growth annually for 10 years ending 2019; the S & P 500 11% annually; the Nasdaq Index an average of 12% the past four years (even through 2 bear markets, a War in Europe, and Covid-19). All these numbers were not balm enough for the “Train Wreck of ‘22” just experienced., however. Knowing we’re not Quitters, Steve quickly polled our members’ estimates for the rest of ’23. WRVC felt, on average, that the Dow and & P 500 would gain 5% and the Nasdaq another 10% on top of their ample January growth.
PP Steve than summoned Jim Crane, me, PP Nancy McCready, and John O’Keefe to share predictions for 12/31/23. These, are below:
Advisor S&P 500 Nasdaq 1yrTBill 10yr TBill
Jim 11% 20% 4.25% 4.0%
Dwight 10% 20% 4.9% 3.5%
Nancy 9% 20% 4.7% 4.0%
John 6% 4% 4.0% 3.75%
Steve 15% 15% 4.25% 3.9%
Each Advisor also was charged to pick their best “Divided Congress Stock.”
Dwight: XAR-the Defense and Aerospace ETF
Nancy: LVMUY-Louis Vuitton
John: EIX-Edison International, which
owns Southern California Edison
The WVRC Foundation gives a big Thank You to Benjamin Fisher for his $100 donation for becoming a grandfather to Noey and, PP Ron Lyster’s $100 donation for purchasing a new vehicle (Tesla no less)!!
President Chris reminded us that we meet again at Guido’s next week (2/9) and at UCLA Hillel at 574 Hilgard Avenue the following Thursday (2/16). Going forward, we will have in-person meetings the first 3 Thursdays each month with a ZOOM meeting the 4th Thursday.