The Lowry Letter®

Week of 11/11/2019

National Financial Services is making a more comprehensive annual statement available to clients who request one by November 15 ^th . This statement is of greatest value to those of your who use brokerage accounts for cash management and regular banking. For most others, the standard statement is sufficient.

Please let us know by the 15 ^th if you would like one. We hope you enjoy this week’s letter!

We learned: about private firefighters in California. For some wealthy people, this has become a viable option, especially when mansions are not insurable by many companies.

We think: this documentary, about the art of sound in filmmaking, looks pretty good (or maybe we should say it sounds good).

We read: about how party control does not have a clear connection with state performance on a variety of metrics over electoral timeframes. In other words, republican and democrat-controlled states performed equally well on certain measurements of progress, like economics, education, & crime over short time frames.

We've been: following the Democratic primary race. We recognize the diverse political beliefs of our clients and try to maintain an open-minded approach. We hope you will forgive us for sharing this critique of Senator Warren’s healthcare plan. We think Cowen makes some good points about the math behind her proposal.

We recommend: this review of The Game Changers, which we mentioned last week. Peter Attia is a really interesting researcher and makes some excellent points about the flaws in the movie (which are common to many similar films).

Q: You have often said international stocks are an important part of a balanced portfolio. What about a country like China, that seems to be acting against what is good for our country?

A: This is a challenging topic. China continues to be a very important economy. Most well-managed portfolios will have some exposure to China. Even a portfolio composed only of companies based in the United States will have some operations there. This includes auto manufactures, personal goods, and luxury brands. US filmmakers are very interested in building their following in the Chinese market.

In a similar way, Chinese companies want to participate in the US market.

For policymakers, this presents some problems. China’s strong governmental control gives them influence over those companies that is potentially dangerous for national security AND intellectual property.

For the normal investor, like you or I, exposure to China can be managed, but not entirely eliminated. We hope that the slow trend toward greater liberalization can bear positive fruit.

Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990

Lowry Financial Advisors is the only advisory firm that helps its clients reach their goals through The Achieving Simplicity® Experience™, providing clarity and confidence in their personal and financial lives.