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  • Adrian Harasymiw

February Market Pulse

I’ve decided to open this edition with a controversial proclamation. Some of you will be confused. Others may even cringe in shock. But there will be those who smile with confidence. I hope most of you fall into the last category. It means I’m writing to the right people and we should have a further conversation.

 

In any case, are you ready for big reveal? Here it is:

 

I have no TV in my office, nor am I plugged into 24/7 CNBC, CNN, Bloomberg or BNN feeds. Yes, I know. By most standards, this is investment industry sacrilege. How can one be an investment advisor without having one’s brain plugged into these outlets?

 

Believe you me, not so long ago, I too subscribed to that notion. I did not deem myself a true investment advisor until I had that TV on my desk, constantly pumping me up with investment information. One day, my dream came true. With the glorious CNBC/BNN feeds on my desk, I felt professional and ready to take on the investment world. And with that ticker endlessly scrolling at the bottom of the TV screen, could life get any better? (Never you mind that the same ticker was made obsolete by the internet years before.)

 

But it was not long before I noticed that being “plugged in” did not equate to getting “better” at investing. In fact, skills seemed in decline. How can that be, I thought? After much self-evaluation, I realized I was entranced the feed’s constant drone and cascade of information. All the conflicting ideas, opinions, insights did nothing but confuse me and send me into an endless chase of the “next big thing” for clients.

 

Realizing these feeds do not have silver bullets nor crystal balls of investing was…invigorating and liberating. I felt set free to set investment courses not riddled with other people’s stale ideas for my clients. I recognized that, at best, these feeds might corroborate the cannons and trumpets in Baron Rothschild’s famous quote – “Buy on the sound of the cannon, sell on the sound of the trumpets”(1.). Let me tell you though, buying on the heels of depressing voices spouting fear is impossible. And when those voices turn euphoric? The impossibility grows exponentially. Reading that Rothschild quote is one thing. Implementing it is quite another.

 

Unshackled from the mainstream expectations and demands, it was time to make my own way, to source my own information and make my own decisions for my clients’ investment success. Have I completely renounced BNN and CNBC as information sources? Of course not. But I access them on my own accord and on my own pace, as needed. I’d rather quench my information thirst slowly, with a straw, rather than having a bucket of water dumped on me.

 

Why am I sharing this big revelation with you?  As I was preparing to script this month’s issue, it donned on me that many global markets surged through and posted all-time highs over the past two or three months. No doubt, I may have been privy of this information much sooner had either CNBC or BNN feed been coursing through my veins. But I suspect that the mob’s frenzy would be difficult to resist, thus clouding my judgement moving forward. I’d rather keep a clear head for potential rough waters ahead.

 

A simple but powerful case in point. In a recent daily publication I skim through, I noticed – “[s]izing up the FOMC tea leaves…” Now, don’t get me wrong, I appreciate there’s a level of metaphor in that statement. But is it not revealing the direction of analysis is resorting to reading tea leaves? Who has time and confidence for trudging down that road? What level of confidence would you have if, at your next portfolio review your advisor busted out the tea leaves and started strategizing your portfolio? Besides, why are we so enamoured with what central banks might say…or did say…or didn’t say? I can’t be the only one who finds it mind numbing, at best.


If applying more prudent investment strategies, rather than ones based on tea leaves, is important to you, let’s connect for an informal and courteous discussion about your investment portfolio and how Pinnacle Sovereign Investments of ACPI may be a better fit as a steward in achieving your life’s vision and goals.

All My Best,


Adrian Harasymiw Investment Advisor Pinnacle Sovereign Investments of ACPI


P.S. To review the February market numbers or download a PDF copy of this commentary, check out the Monthly Market Pulse page on our website.



(1.) "The Maxims of Wall Street", Mark Skousen, 2nd Edition, 2013

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