All three major US indices were negative in July, varying between 1.75%-2.5%2 down.
Small-caps suffered a more severe setback, with the Russell 2000 index down an eye catching 6.05%2!
With the move downward, the Dow Jones is once again in negative territory for the year.
With markets generally flat to negative this year, it has been Gold along with Bonds that have outperformed. Both asset classes are looked upon as "safe havens" when stocks markets are not performing or when there is turmoil in the world.
And, despite a strong 2nd quarter GDP number, there is plenty of turmoil and uncertainty currently; namely the geopolitical issues overseas, Argentina's default on their debt, and the possibility of a less accommodative Federal Reserve in the not too distant future. |
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Our Management Philosophy
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Limit downside risk and provide clients a reasonable rate of return over a market cycle.
With over five decades of combined money management experience in South Texas, you can be sure that Walter and Anthony Reyna have seen it all. This father-son pair built and developed Walter J. Reyna Inc. on the importance of hard work and strategic planning and continue to implement these core values in their business today.
The Reynas believe that wealth accumulation and protection are the result of exceptional planning, not luck. Visit our website to learn more.
Walter J. Reyna, Inc.
5315 North McColl Road
McAllen, Texas 78504
956.682.4196
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We are now well over 1000 days since the last 10% correction. This is the longest period between corrections since 1984--1987! And, in another sign of a billionaire investor turning bearish, Warren Buffet has raised the cash holdings in his Berkshire Hathaway to over $50 billion! Yes, $50 billion. This is the largest cash holding for Mr. Buffett in over 4 decades since he became Chairman and CEO.
The fact is, when Warren Buffett talks, investors listen. To have such a large cash position is telling because it could indicate that the Oracle of Omaha simply doesn't see anything out there worth throwing his money at - and could indicate that, broadly, there is not a lot of value to be had in the current environment.
Historically, the next couple months, August through October, are very volatile, so it will be interesting to see what unfolds.
Visit our website to learn more.
For more information about your portfolio performance, please refer to your personalized statements or contact us. Regulatory restrictions prevent us from reporting personalized performance data in this newsletter. See below for important disclosures.
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(1)The S&P 500 Index is representative of domestic markets and includes the average performance of 500 widely held common stocks. Individuals cannot invest directly in any index and unlike investments; the S&P 500 Index does not incur management fees, charges, or expenses. (2) All Statistical information, investment category determinations, and economic data retrieved from www.bloomberg.com. Past performance is no guarantee of future results and all investment strategies involve the risk of financial loss.
This publication is proprietary and limited to the sole use of Walter J. Reyna, Inc. clients. Client portfolios are designed for the moderate investor but are actively managed on a monthly basis and may not follow traditional risk adjusted asset allocation models. Walter J. Reyna, Inc. maintains full discretion over said accounts and manages as deemed necessary. Clients with questions about the fees associated with their discretionary advisory account should refer to their advisory agreement. The information contained herein is for illustration purposes only. It is not necessarily complete, does not include client directed investments, and its accuracy is not guaranteed by Walter J. Reyna, Inc. All clients should reference their periodic statements for accuracy. All clients needing additional information about holdings in the portfolio, including the objectives, risks, asset class and costs associated should refer to their respective prospectus. If you have received this communication in error, please notify us immediately by e-mail or telephone. Neither the information, nor any opinion expressed constitutes a solicitation nor investment advice, for the purchase of any future security referred to in the Advisory Newsletter. Investments offered through Registered Representatives of Lincoln Financial Securities Corporation, member SIPC. Lincoln Financial Securities Corporation and Walter J. Reyna, Inc. are not affiliated.
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