PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia advises listeners to be cautious investors going into 2021.
“Well, there’s not a lot in the way of economic data coming out this week. It’s another short week, and it won’t be until the beginning of next week that we’ll really start to see economic data, the year-end numbers and the December numbers, coming out. We’ll get a good idea next week on what is happening with the unemployment rate and where we are with non-farm payrolls for the month of December. That will give us an idea of where we close out average hourly earnings and what the final unemployment number will be for the year 2020. But this week we are light on the data. We do have Case-Schiller Home Price Index coming out, but it’s an October number. It’s too backward-looking in a very fast-moving economy, that is for sure.
“That’s going to be about the end of the economic data for the week. We usher in a new year with an enormous amount of anticipation; some might even say concern. I would be in the concerned camp. We must to be very careful as we think about our investment strategy, moving into 2021. Even being cautiously optimistic may be a little too optimistic. I think we’ve got to move into it a little bit more pessimism, so that we are a more cautious than we might be otherwise. Quality in your portfolio is going to be extremely important possibly for the next two years, depending on who gets sworn in as president in January. This will be the time to take a long hard look at those good strong companies that have performed well this year. Consider those as foundational to our portfolio moving forward, assuming that you’re a long-term investor. It’ll be an interesting week, but a short one. Everybody is primarily looking forward to what the outlooks and predictions will be for 2021.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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