A November to Remember?

Hello everyone! Welcome to the November 2024 edition of the Boodle blog! If you are new to our blog, we thank you for being here. If you are a returning member, we thank you for your business. At Boodle, we provide this blog to our members, so that they can hear directly from us, and know what we think of the current market conditions.
We believe that the person best able to manage your money is you, and at Boodle we share our knowledge with you to help make you a better investor!

So, let’s take a look at what happened in the market in the month of October, and then we will look ahead to the month of November and offer our opinion on what to expect this month. October generally has a reputation that typically doesn’t favor retail investors (you & I). Something called the “October Effect”, when market crashes occur has been something attributed to this particular month. The numbers for this month point to a pretty neutral market. For October the DOW lost 0.71%, and the S&P 500 slipped 0.39%. Once again, it was the tech-weighted NASDAQ that add +0.59% to its September numbers.

For the year as of October 31st, the DOW stands at 11.58%, the S&P 500 has a 20.10% gain, and the NASDAQ leads all 3 with a 21.51% gain.
We are focusing on two major indicators for the month of November, and one of them is approaching quickly – the 2024 Presidential election and which political party will control the White House. This election has huge implications for Boodle and its members due to what could happen to tax rates and Federal spending.
Just so that we are transparent on this subject – Boodle is a proponent of low taxes and always has been. We believe that the less a product or service is taxed, the better for our clients. The Federal government has been on a spending spree for decades and you can see the result – a $35 Trillion-dollar debt, and a $2 Trillion-dollar deficit.
Just this past Friday, November 1st when the jobs numbers were released, it was reported that the economy created just 12,000 new jobs in the month of October! In a nation of more than 330 million people, we believe that number is unacceptable. Meanwhile, the Federal government added 40,000 workers and as far as we can tell, these “workers” do not generate revenue- that is a function of the private sector.

We are not calling the election because that is not what we do here at Boodle. What we will say is that as a Boodle investor you should continue to follow your dollar-cost-averaging program as you have been doing. Remember- discipline is the key and discipline will serve you well. Our analysis of the economy continues to flash green and like you- we are keeping to our plan which is to help everyday people learn how to manage and grow their money, by growing their knowledge using Boodle as their vehicle of choice on the road to financial freedom! Enjoy your families and have a Happy Thanksgiving! We will see you back here in December as we wrap up 2024.