POCKETBOOK Week Ending April 26, 2019

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  • Wanna succeed at whatever? Here’s how.

When you boil things down, it doesn’t take that much effort to set yourself on the road to success. Really.

No matter what your chosen field of success happens to be focused on, such as building wealth, helping others or succeeding in business, two well-known oldsters, Warren Buffett and Charlie Munger—you know, the guys behind the success of Berkshire Hathaway— understand firsthand what it takes to help insure you’re on the right path to success: Keep learning every day of your life.

In a recent CNBC.com story comes this from Munger who says that Buffett is “learning machine: “If you take Warren Buffett and watched him with a time clock, I would say half of all the time he spends is sitting on his ass and reading,” Munger said in his 2007 commencement speech at the University of Southern California.

“Without lifelong learning, you’re not going to do very well. You’re not going to get very far in life based on what you already know,” says Munger.

So simple. So true. So easy for each of us with aspirations of any kind to do.

 

  • Market Quick Glance

All hail America’s recent positive economic data and an annualized GDP growth rate of 3.2% that exceeded most everyone’s expectations. Without it, they would have been no new closing highs reached in both the S&P 500 and the NASDAQ last week.

Below are the weekly and 1-year index performance results for the three major indices—DJIA, S&P 500 and NASDAQ — including the dates each reached new highs. Data is according to CNBC.com and based on prices at the close of business on Friday, April 26, 2019.

DJIA 13.79% YTD down a hair from the previous week’s 13.86%.

  • 1 yr. Rtn 9.13% up from the previous week 7.68%

Most recent DJIA a new ALL-TIME CLOSING HIGH was reached on Oct.3, 2018 of 26,951.81. The previous high was reached on Sept. 21, 2018 of 26,796.16.

 

-S&P 500   17.27% YTD up a heap from the previous week’s 15.88%

  • 1 yr. Rtn 10.23% up a big bunch from the previous week’s 7.87%.

*****The S&P 500 reached a BRAND NEW CLOSING ALL-TIME HIGH on Friday April 26, 2019 of 2,939.88. The previous all-time closing high was on Sept. 21, 2018 of 2,940.91. Prior to that, the high of 2,916.50 was reached on August 29, 2018.

 

-NASDAQ 22.77% YTD up a chunk from last week’s 20.54%.

  • 1yr Rtn 14.44% way up from last week’s 10.50%.

*********Nasdaq reached a BRAND NEW All-Time CLOSING HIGH on Friday, April 26, 2019 of 8,146.40. Prior to that, the previous high of 8,1333.30 was reached on August 30, 2018. Before that, on August 24, 2018 reached it’s then all-time high of 7,949.71.

 

-Mutual funds

Still smoken.

Another round up increases in the year-to-date returns for equity funds as, at the close of business on Thursday, April 25, 2019, the year-to-date cumulative total reinvested performance of U.S. Diversified Equity Fund was 16.54%, according to Lipper. That’s up from the previous week’s close of 15.86%.

That broad U.S. Diversified Equity Fund heading was hard to top when compared with the y-t-d return of Sector Equity Funds with their average return of 14.40%; World Equity Funds’ return of 13.61%; and Mixed Asset Funds’ return of 10.07%.

Clearly equity funds have been the only game in town as the average y-t-d return of Domestic Long-Term Fixed Income Funds was 4.01%. And, World Income Funds’ 3.87% averge return.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

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