Posted by Sanjiv Prabhakaran on May 10, 2019
 
Steve Weitzen was very happy since it was his 66th birthday. He was also sad since his close friend Lori was the victim of the Poway Synagogue shooting.
Steve also announced that the Director of the San Diego Fair Fred Schenk will be coming next week to give us the update on this year's theme and also distribute few tickets.
Charlotte announced that the new Bocce website is up and can be viewed at www.BocceFestSD.com.
 
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"Financial Market Update" by Clyde Chandler of Fidelity
Clyde has been in the financial field for over 20 years and currently he is a Senior VP at Fidelity Investments in Carmel Valley and deals with hi-net worth clients. Clyde has a BS in Economics and has many certification in wealth strategy, financial planning and has passed Series 6,9,10, 63 & 65 exams. Clyde enjoys running, surfing, coaching soccer, and spending time with his family. Clyde has been a staunch supporter of our Bocce Ball fund raising events for several years and this year he has graciously agreed to be the $5k primary sponsor.
 
Clyde talked about the various types of investments and how the markets are reacting. They provide 3 types of strategies --
Secular (10-30 years) that covers sectors, such as, Energy, etc. This category goes up and down over many years.
Business Cycle (1-10 years) - this sector goes through growth, stagnation and recession.
Tactical (1-12 months) - this is for the day to day stuff.
 
He indicated that the economic growth is directly tied to labor and productivity. Output is the measure of the economy's success.
Japan has had no economic growth for 30 years due to the aging population.
His prediction was that the Feds might lower the interest rates.
 
 
The above slide shows the signs of recession - high labor costs, negative rate of return, profits declining. He says that 2 years of negative rate of return is an indication of a future recession.
 
His advice to all is that the ration of stocks to bonds is usually 60 to 40  for basic investors but then age also plays a big factor. For example a 25 year old investor will be recommended 90% in stocks since he/she can bear some risks.
 
His final point was that earnings per share drives the stock price and that in turn drives up the economy. He said that some companies buy back their shares but that unfortunately does not grow the company.
 
 
In the end DMSB Club interim President Ken Barrett presented the speaker with the Joshua certificate that represents our club DMSB donating school supplies to schools in Malawi in the name of the speaker.
 
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