In Disney’s movie Up, Dug is the lovable dog that wants to please but gets a bit distracted and barks his famous ling “SQUIRREL!!!”. For us investors, there are so many “squirrels” vying for our attention that it is hard to stay focused on our end goal. This season’s Folio by One Capital Management uses an analogy of a woman walking her border collie off leash through Central Park. While the women represents the economy and the dog represents the stock market they both take very different paths to get to the same place. And while the dog is way more entertaining to watch, the women walking steadfast is the one we should pay attention to.
This folio pays a visit to 1991 and the economic trends and lessons learned. And then fast forwards to 2018 and 2019 with what we’ve experienced and what may be on the horizon. OCM Spring Folio 2019