Wow, 2021 was interesting, but I say that every year for different reasons.
Looking back, we entered year two of the global pandemic with over 250 million people catching COVID-19. Vaccinations were met with elation and relief only to be followed by skepticism and two additional variants. A new U.S. president was sworn into office just days after individuals stormed the U.S. Capitol in protest. The U.S. government orchestrated a chaotic exit from Afghanistan while Congress passed a massive infrastructure bill. The term “meme stocks” was born as certain small company stocks soared driven by a loyal following online. Similarly, crypto currencies surged and fell multiple times. The first crypto exchange traded fund (ETF) was launched, attracting over $1 billion in assets. Supply chains became frayed, and product shortages helped drive up the price of goods at a pace not seen in decades. The pandemic period went from being called optimistically the “Great Reset” to the “Great Resignation” as a record number of people left their jobs. Despite these challenges, consumer savings rates and corporate profit margins reached record highs. The S&P500 has had strong double-digit returns proving once again that bull markets can climb a “wall of worry”, and that it is impossible to predict stock market behavior. It’s all about time in the market not timing the market!
We enjoyed visiting with many of you who are local during our 7th annual Thanksgiving Pie Giveaway. It’s remarkable what is possible when we all come together - your generous donations allowed us to collectively give nearly a dozen bags of food to our local food bank! We’re looking forward to supporting our community through events like these annually.
After our busy holiday season, we are taking a moment to pause and reflect on this past year and what your partnership means to our firm. Your willingness to be authentic and share your journey with us is something we are deeply grateful for. As we did in 2020, in lieu of holiday cards, we made donations to Junior Achievement of Greater Washington and to George Mason University’s School of Business (Financial Planning and Wealth Management concentration) again in honor of our amazing clients.
We are grateful you have chosen Curo Private Wealth as your partner for your financial future. Thank you for the opportunity to work with you, and to be of service. We are looking forward to a bright 2022!
Happy new year!
All my best,