In our latest commentary we discuss:
- We believe the cause of this week’s market sell-off (other than stretched valuations in many companies) is due to the concern over rising interest rates, which the Fed is raising in an effort to head off the potential of higher inflation.
- From everything we can see today, we believe the U.S. economy is doing well. Even after the recent market volatility and pullback, we are encouraged by the fact that a majority of our indicators are showing no signs of a recession for the foreseeable future.
- We do not believe that this is the beginning of a major bear market. Instead, we believe this is a correction within a major bull market.
- We believe there is a rotation into value stocks from growth stocks and that our basket of stocks at Century Management continue to represent very good values.
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