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Destiny Capital Founder Steve Musick Announces Retirement for September 2021 After 40 Years of Dedicated Service

Destiny Capital Founder Steve Musick Announces Retirement for September 2021 After 40 Years of Dedicated Service

It is with mixed emotions that we share this announcement today. After 40 years of dedicated service to his clients and team, Destiny Capital founder Steve Musick is setting his sights on a well-deserved retirement in September 2021. This is a time of celebration of an incredible career and also an important transition that Destiny Capital has been preparing for. We will miss Steve immensely and we are honored and ready to carry the torch!

Election Update

Election Update

Our job isn’t to declare winners and losers – it is to study the most likely outcome given new, relevant data and to understand how financial markets may react. At this stage, it appears as though financial markets are betting-on an outcome of divided-government, meaning that Joe Biden will remain the President-Elect, Republicans will keep the majority in the Senate, and the Democrats will maintain the House after losing a number of seats.

Markets & Economy Report (October 2020)

Markets & Economy Report (October 2020)

The beginning of November is a time that I have been focused-on with anticipation and excitement on a professional level.  On November 3rd, Americans will cast their ballots – if they haven’t already – in an election that will set the course of our country over the next four years and beyond.  This is also the time of year that Destiny Capital’s Investment Committee accumulates and studies data from many of the finest financial research institutions in the world as we conduct our annual Capital Market Assumption review process.

Markets & Economy Report (September 2020)

Markets & Economy Report (September 2020)

The beauty of investing is that we can prepare even for the surprises and storms we do not know to watch for. We prepare by remaining disciplined and consistent in our investing approach. By ensuring that portfolios stay diversified so that no single storm can sink all ships.

Markets & Economy Report (July 2020)

Markets & Economy Report (July 2020)

In one of our frequent group discussions, I recently asked Destiny Capital’s wealth strategists and financial planners what questions and concerns they are hearing from their clients most often these days. To my surprise, the answer wasn’t COVID – it was concern about the November election. Therefore, it was suggested that someone publicly articulate our firm’s general thoughts on this subject – and all digital eyes turned to me despite my best efforts to slink below my desk and out of eyeshot of my Zoom webcam.

Markets & Economy Report (June 2020)

Markets & Economy Report (June 2020)

In late May, over 5.8 million viewers tuned-in to watch Tiger Woods, Peyton Manning, Phil Mickelson, and Tom Brady play a sloppy round of golf in the midst of a torrential downpour. Highlights of the match – to many viewers, anyway – included Tom Brady splitting his pants, commentator Charles Barkley’s incisive trolling, and Phil Mickelson’s chiseled calves. Given the record viewership for this event, I think it’s safe to say that Americans are a bit starved for competitive, live sports. As such, I thought I’d begin this month’s market & economy recap by using a sports metaphor to dissect and explain what we’ve experienced in financial markets in recent weeks.

Coronavirus Update: Peak COVID

Coronavirus Update: Peak COVID

Our path has been long and punishing, and it may feel disheartening that we haven’t yet reached ‘Peak COVID’ when considering either total global cases or full economic impact. The summit seems near, but we still have a laborious path ahead, particularly when considering both the loss of life and the release of future economic & earnings data.

Coronavirus Update: The New Abnormal

Coronavirus Update: The New Abnormal

As the pandemic crisis continues to persist, I’ve sensed an evolving spectrum of emotions from friends, family and co-workers in recent days and weeks. In fact, I’m finding that some of these emotions often overlap with the commonly known ‘five stages of grief’ that many people experience when dealing with loss or hardship.

Coronavirus Update: Lessons From a Chess GrandMaster

Coronavirus Update: Lessons From a Chess GrandMaster

We actively identify and implement tactical opportunities to better position client portfolios, yet – as Chess GrandMaster Garry Kasparov recommends – we remain true to who we are as investors and asset managers. This allows us to maintain incredibly strong conviction in our thesis, process, asset selections, and tactical decisions.

Coronavirus Update: Report Cards Are Arriving

Coronavirus Update: Report Cards Are Arriving

Recent days have been fascinating – strictly economically speaking – as we are finally starting to see earnings reports and other economic indicators that begin to reflect the realities of the COVID-19 pandemic. In short – report cards are finally starting to arrive, and investors are beginning to get a strong dose of reality. Therefore, we’ll start our weekly commentary with a very basic report card of some of the data that has emerged in recent days.