Quote of the Week

“Not everything that is faced can be changed, but nothing can be changed until it is faced.” –  James Baldwin

Technical Corner

Last week the markets were just barely up, with the three major indexes up less than 1%. Yesterday (Monday), the markets took a big hit, and today the markets came back with less than a 1% rally.

I don’t have any idea what is going to happen between now and the election. Just a moment ago, Mitch McConnell advised the White House not to strike a pre-election stimulus deal with Nancy Pelosi.

Politics aside, the country really needs a stimulus for two reasons:  To help people who need it to survive and for the economy not to fall back into a deep hole that could take years to climb out from. One of the greatest quotes I have ever heard is, “If you are in a hole, quit digging.”

This recession/depression is much worse than the Great recession of 2008 and 2009. Millions of jobs are permanently lost now, and as the pandemic continues, we will see even more jobs lost. The country will run up a massive debt that our children will have to sort out. Social Security and Medicare are now under more significant stress due to lower tax revenues. Meanwhile, Congress and the White House are playing politics with people’s lives.

The new data is showing we are moving back from Quadrant 4 towards Quadrant 3. Remember Quadrant 4 is slowing growth and declining inflation. Quadrant 3 is slowing growth and rising inflation. We are right on the borderline between the two quadrants. So, I expect some changes to our models. Stay tuned.

Lisa’s Thoughts

We share our state with snowbirds and people who have moved here for our usually nice climate.  Many states have a department of motor vehicles (DMV) , but Arizona does not.  Online searches for the wrong term may get you in to trouble here in AZ.  Read on to see what I am talking about.

ADOT News: Avoid scam ‘DMV’ websites

Arizona motor vehicle services available at AZ MVD Now and ServiceArizona

Arizona has a lot of unique features — like having a Motor Vehicle Division instead of a Department of Motor Vehicles.

But what might seem like a simple name difference can lead unsuspecting customers to unauthorized websites and scams when they’re simply searching for ways to do business online with the Arizona Department of Transportation Motor Vehicle Division.

That’s because many people may reflexively do a web search for the “Arizona DMV” or something similar, and that can lead them to websites that aren’t affiliated with ADOT.

“Azmvdnow.gov and ServiceArizona.com are the only authorized web portals for the MVD, and people need to be wary of imitation sites that could be a scam,” said MVD Stakeholder Relations Manager Jennifer Bowser-Richards.

She added, “There are fraudulent websites falsely offering motor vehicle services such as Arizona driver licenses, IDs, and vehicle titles and registration. They can appear in searches with keywords such as MVD or DMV. The best protection for our customers is to activate their secure and personal AZ MVD Now account.”

More than two-thirds of MVD services are available through AZ MVD Now. They include popular options such as registration renewal, ordering a duplicate license, and getting a 3-day permit as well as newer online offerings like prepaid vouchers, electronic title services, updating insurance information, the Permit Test @ Home for those getting a learner’s permit, getting a motor vehicle record and many more.

Activating an AZ MVD Now account takes just a few minutes. Every current MVD customer already has an account with their driver and vehicle information that’s waiting to be activated. Customers may go to azmvdnow.qov and follow the prompts for how to activate their account. The process is free and is protected by several security protocols that are explained on the site and in an accompanying “how-to” video for those who wish to view it.

Additionally, ADOT does not offer MVD services through phone solicitations, nor does it endorse or advertise for online businesses claiming to provide MVD services.

There are legitimate Authorized Third Party businesses that are licensed and authorized to perform MVD transactions in person. A list of Authorized Third Party businesses can be found at azdot.gov/mvd.

https://content.govdelivery.com/accounts/AZDOT/bulletins/2a26bfa Accessed 10-19-2020


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These are the opinions of Larry Lof and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. Past performance is not indicative of future results. Due to our compliance review process, delayed dissemination of this commentary occurs.

The S&P 500 is an index of stocks compiled by Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. The Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Indices mentioned are unmanaged and cannot be invested into directly.

Technical analysis represents an observation of past performance and trend, and past performance and trend are no guarantee of future performance, price, or trend. The price movements within capital markets cannot be guaranteed and always remain uncertain. The allocation discussed herein is not designed based on the individual needs of any one specific client or investor. In other words, it is not a customized strategy designed on the specific financial circumstances of the client. Please consult an advisor to discuss your individual situation before making any investments decision. Investing in securities involves risk of loss. Further, depending on the different types of investments, there may be varying degrees of risk including loss of original principal.

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