September 2019 Newsletter to Clients

Enjoy this month’s edition that features an update on Moneywatch Advisors, Inc. succession plan and a market update…

Succession Plan: Congratulations to Mrs. Ramsey Bova who became the proud 100% owner of your financial advisory firm, Moneywatch Advisors, Inc. a subsidiary of MAI, Inc.

Bob Bova is happy to turn over the reins of leadership and ownership of the company he founded in July 1980. Bob has no plans to retire and will continue to remain active as a financial advisor and confidant to Ramsey. 

Ramsey attended (and graduated) Clemson University to major in Finance with the goal to work for Moneywatch. In 1998, she joined Moneywatch to take over from the soon-to-retire, Director of Financial Planning, Bob Rahenkamp. Bob had been with the company since the early eighties and helped its founder build the business. He surrendered his position and retired about one year after Ramsey joined the firm. It’s hard to believe Ramsey has been at the firm for 21 years.   Time flies, just like the nearly 40 years which have passed since Bob Bova originally founded Moneywatch.

Market Update: The stock market has been quite volatile lately. I actually heard on TV that a Treasury official predicted the United States economy was headed for a recession. No one seems to know which official made this pronouncement so now we are told the U.S. bond market is predicting recession by its inverted yield curve. Recently discussed by a number of portfolio managers and economists, the yield curve has predicted recessions but without much accuracy. One such prediction came to fruition about three years after the date of inversion.

Surely growth of our economy will slow and the stock market has been the best predictor, usually falling 15% to 20% six months before the slowdown starts. Most of us would love to know and prepare for a market sell off but we seasoned professionals know such predictions are perilous.

We remain fully invested, but the balance between income investments (bond market) and growth investments (stock market) protect our capital from significant dislocation. Remember, we employ the smartest mutual fund portfolio managers to decide which common stocks, bonds, bank loans, etc. are best for the long term.

Thank you for your continuing confidence.

Past performance is no guarantee of future results. The opinions expressed are those of Moneywatch Advisors, Inc. and are no guarantee of the future performance of any particular fund. This information is for educational purposes only and is not intended as investment advice. Please consult your financial advisor for more detailed information or for advice regarding your individual situation.