Q3 2018 Economic and Market Perspective

Normally I'd start this note by looking back at the behavior of the market and economy over the prior quarter but given the tumult and maelstrom of October it seems more appropriate to look at recent developments first. It seems the market has finally realized that interest rates are likely to rise more and faster than expected and the "I" word (inflation) along with uncertainties of a trade war with China caused the market to do its customary October sell off.

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Florida Georgia Line Bass Player - Tom Beaupre

Please welcome Tom Beaupre as the President of Musician and Artist Relations for LPWM Group.

Tom has been the Bass player for Florida Georgia Line (FGL) since roommates Brian Kelley and Tyler Hubbard formed the group in 2010. Having performed in well over 1000 shows with FGL, Tom is excited about combining his skills and passion for music and expanding his business and entrepreneur acumen.

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U.S Midterm Elections and the Markets

On November 6, 2018, U.S. voters will determine whether Republicans maintain control of both chambers of Congress. Up for election are all 435 House seats and 35 of 100 Senate seats. At stake for investors is the impact the midterm elections could have both on corporate earnings and on the U.S. economy. It’s interesting to note that according to Bloomberg since 1946, the S&P 500 has never declined in the 12 months following midterm elections. Furthermore, the S&P 500 has seen an average fourth-quarter return of 7.9% during midterm election years. That being said, I feel comfortable saying we should expect heightened volatility during and after this election season given the current administration and sitting President.

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Taking Stock of the Recent Volatility

Market pullbacks and violent spikes in volatility can be unnerving, as they were last week when the Dow Jones Industrial Average fell more than 800 points on Wednesday, October 10th, and more than 540 points on Thursday, October 11th. As we wrote in the first quarter of this year after a swift decline in U.S stocks, it is important for our investors to not panic and let their emotions take over when turbulence hits portfolios. Rather, these periods should be used as a reason to analyze and assess investment objectives and investment time horizons for each asset class.

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