In 1826 John Adams and Thomas Jefferson, both elderly and bedridden, wrote each other expressing the will to see one more July 4.
These founding fathers got their wish and they both passed away on July 4, 1826, the 50th anniversary of the adoption of the Declaration of Independence.
They took great pride in their country and were optimistic for its future. We, too, should take great pride and be optimistic.
Some investors say America’s best days are behind us. We’ve heard that before and they were wrong. Consider this: If you bought stocks on the first opportunity after 9/11 you would be up 95 percent, or 5.9 percent annually including dividends.
If you bought stocks the day of the 2008 Lehman Brothers bankruptcy your total return would be 49.9 percent, or 8.9 percent annually.
It’s easy to see why some are pessimistic. Twenty-four-hour news channels cater to the far left and far right in order to build their audience. Guests argue why the other side is wrong. Most every story is negative. That’s because bad news sells.
Investors often get caught up in the gloom. They buy books predicting bad times and market crashes, written by authors who have made a living predicting things that never happen.
On this Independence Day we should focus on what is going right. The U.S. stock market is having an exceptional year, up 13.2 percent through last Monday.
Our market is far stronger than other countries. The average iShares country ETF has fallen this year. Our economy is improving, home prices are once again moving higher, and corporate balance sheets are strong.
Under reported in the media is our growing natural gas supply. The U.S. is the Saudi Arabia of natural gas, which will be a driving force for our economy for many years to come.
There is a saying, “Those who aren’t optimistic on America are broke.” It hasn’t paid to bet against this country. It hasn’t ... and it won’t.
As we celebrate Red, White and Tahoe Blue this week, we can all look to our country’s future with optimism.
David Vomund is an Incline Village-based fee-only money manager. Information is found at www.ETFportfolios.net or by calling 775-832-8555. Clients hold the positions mentioned in this article. Past performance does not guarantee future results. Consult your financial adviser before purchasing any security.