Video Update - Great News From Two Of Our REITs

Plus, how markets keep overreacting, and will again

Author

Tim Melvin
October 08, 2024

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As we enter the week of October 7th, the financial landscape presents a mix of interesting developments and potential challenges. Here's a comprehensive overview of recent events and their implications for investors and our Real Income and Total Return Portfolios:

Market Insights and Economic Overview

As we enter the week of October 7th, the financial landscape presents a mix of interesting developments and potential challenges. Here's a comprehensive overview of recent events and their implications for investors.

Port Strike Resolution and Market Overreactions

The recent port strike, which affected major ports from Texas to Maine, has been resolved. The union initially sought a significant pay increase from $36 to $70+ per hour, along with restrictions on automation. The settlement resulted in a raise to $63 per hour, improved healthcare benefits, and a postponement of automation discussions until January 15th.

The strike's economic impact was less severe than initially feared, estimated at only 0.01% of GDP per day. This situation highlights how market overreactions to such events often lead to ill-advised investment decisions. It's crucial to remember that long-term portfolio construction should be based on valuation, fundamental quality, and price momentum, not short-term news events.

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