This past Thursday marked the 100^th day since the S&P 500 touched a low on March 23 following the Coronavirus Pandemic. Now, with the S&P 500 closing in again near record highs post COVID-19, had you fallen asleep in early February and woke up in mid-August, you would have thought nothing much happened in the equity markets. I have heard it said many times before; there is more risk to being out of the market than being in the market. Trying to time the equity markets is an exercise of futility. Assume for a moment someone managed to time the market just right and exited the equity market prior to the Pandemic. They would then have had an equally difficult decision to make - “When to get back in?” Studies have shown that if you miss the best 10 days of a market rally it drastically lowers your overall returns compared to a strategy of staying the course and taking the averages. Careful attention to your investment goals, risk tolerance and your specific time horizon should always be taken into consideration. An investment strategy should be chosen that best matches your overall goals and financial plan. Careful selection of investment choices should then be made to help ensure the right asset allocation. From time to time, a thorough review of your investment strategy and portfolio allocation is needed to make sure you are staying on course to reach your goals and objectives. Remember, there are many differences between being an investor versus a speculator. Time in the market is what matters most; not timing.

Any opinions are those of J. Greg Garner and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Asset allocation and diversification do not guarantee a profit nor protect against a loss. Dividends are not guaranteed and must be authorized by the company’s board of directors.