Weekly Market Recap This week saw extremely high volatility across global stock markets, sparked, in our view, by concerns about Chinese growth. Ultimately, global markets saw gains this week after a notably poor start and the accompanying panic inducing headlines on Monday. Against this backdrop, economic data was generally good. The US saw strong second quarter growth of 3.7%, ahead of most expectations, and housing and jobs data were positive. In China, the government continued to take steps to bolster its stock market against recent declines including lowering interest rates and reducing reserve requirements for banks. Though our preferred investment time horizon is decades, this past week demonstrates, on a small scale, the important theme of staying the course with a robust investment strategy. During the apparent panic late this week, there was the obvious temptation to sell based on gut instinct. However doing so would have caused you to miss out on gains as the market rebounded. Daniel Kahneman won the Nobel Prize in economics for recognizing that humans aren't always as rational as economic models would perhaps like them to be. Increasingly, behavioral finance, which Kahneman championed, has become an influential discipline within finance. Weeks such as this perhaps show us why. The decline and the subsequent rebound within a week may not necessarily have rational causes, but long-term investors clearly can benefit from patient, long term stock market exposure based on history. Disclaimer:
The views expressed herein are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. Differences in account size, timing of transactions and market conditions prevailing at the time of investment may lead to different results, and clients may lose money. Past performance is not indicative of future results. The tax loss harvesting strategy discussed should not be interpreted as tax advice and it does not represent in any manner that the tax consequences detailed will be obtained or that its tax loss harvesting strategy will result in any particular tax consequence. Clients should consult with their personal tax advisors regarding the tax consequences of investing. Your Portfolio Summary | $9,177.80 Your Total Assets | Ways To Improve Your Portfolio | 0 Accounts with Actions | Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps  | | Sign in to see your full dashboard | | 
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