If you had put in a market order to buy 1000 shares that evening, the order would have been executed the following morning at whatever asking price existed at that time. It could have been $80.99. You would be paying $1 per share more that the close the previous afternoon.
Our asset allocation has not changed in twenty-three years. It has been 100% allocated to common stocks. Prior to that, that is prior to the fall of 2002, we had been 100% in two-year government bonds for five years.
As with the British Corn Laws in the early 19th century, tariffs will raise prices for consumers while profiting business owners, even those whose operations cannot compete on a level playing field with global competition. It’s amazing to think that U.S. consumers will probably face higher prices than consumers all over the world. Trump’s billionaire cronies will do just fine. The average American will not.
Like rainy days, we simply have to prepare ourselves and put up with them. And like rainy days, if we are in the umbrella business, we can take advantage of them.
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