Posted By RichC on August 10, 2017
With the tension rising between the U.S. and North Korea over nuclear weapons, the broad financial markets headed lower today for the first time in a while (or so it seemed). The often cited DJIA closed down 204.69 or about 1% while the Nasdaq doubled that move at 2% down.
Even though the tone was set yesterday saw President Trump give warning with a “fire and fury” comment, it was today after 33 year old Kim Jong un refused to tone down his threats and planned to fire four missiles toward Guam in mid-August. Trump reinforced his words with “perhaps I may not have gone far enough.” In any case, investor even with positive momentum from solid corporate earning had the jitters. Hedge fund guru Ray Dalio suggested we should “buy gold on rising political risks.”
I’ve never been confident in buying lowand selling high, but I did add a few more shares of beaten up Ford $F to my long term dividend holdings in hopes to rethink an income stream based retirement portfolio (there was a day back in the 1990s when I was holding a couple 9-3/4% Treasuries thinking about laddering them and having my retirement set! Oh those were the good ol’ days for fixed income.)