Notable Quote

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Jim Geraghty, writing for National Review:
Marco Rubio’s “Common Good Conservatism” and other conservatives expressing more skepticism of the free market are all fascinating, but I remain unconvinced that you’ll have a lot of success trying to fix cultural problems with federal government policy solutions. We’ve got serious and worsening troubles: addiction, suicide, cycles of despair, forgotten communities, isolation, and alienation. But if your plan is to turn to government to fix it, you’re ultimately trusting the same institution we trusted to provide medical care to veterans. The federal government has a lot of good people working for it, but they’re mostly stuck in structures and cultures that incentivize the status quo, punish risk-takers, minimize accountability and disregard efficiency. Could we change that? Maybe, but it won’t be easy, and it won’t happen quickly. The problems we face weren’t created in a small office in a federal building Washington, and they won’t be fixed there.

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Thoughts on the election results

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As expected, the Democrats took control of the House, the Republicans kept the Senate. This is what the market expected, so there is no longer any uncertainty. Markets hate uncertainty. 

While I can't predict the future, I think we can expect markets to return some gains over the next several months. Today may be the confirmation that the correction has changed to another uptrend. I added to my equity holdings Monday in anticipation of this event. 

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