Transcript
Well, hello, everybody, welcome to Wednesday, really crazy day today, obviously, with all kinds of things happening out there, the S&P 500 was up almost .6% today was actually up quite a bit more than that almost a percent higher than that at one point in the day. And then we had the protesters kind of storming the Capitol in Washington, and that brought the market down. So just quickly, let me tell you my opinion on those types of events.
You know, one of the things that happens with the stock market, it’s a representation of human emotion. So when something you know, happens, that is scary or unexpected, or what have you, generally speaking, you know, you’ll see some pullback, but after things settle down a little bit, you often see things just getting back to normal. But you really watch for for permanence in you know, at least temporary permanence, even in stock market downturns, is something that’s actually gonna affect the stock market. So, you know, we had a couple situations in the last month or so where New York City was locking down. So there was one announcement that they were going to be closing the schools, we saw a big drop, you know, for the second half of that day after that announcement. And then we heard another, you know, thing come through with New York City was continuing to do some other lockdowns or restaurants and those types of things. And we saw a big drop. And so it’s kind of fascinating to me that, you know, those are happening all over the country, when they happen in New York City, it makes the market move well, in both cases, the market went right back up the next day, because those aren’t economic things that are going to drive the national or global stock market down for a substantial period of time and either as this protest, now, anything can turn into something else, and you never know. But most likely, this is a kind of a non-event.
What it really obscures is the fact that, you know, the Democrats won the Senate, which was kind of an amazing accomplishment, considering, you know, it was in Georgia. And we saw some remarkable movement in the market, especially in a lot of the pieces that we own. Let me read to you, we have five Clean Energy pieces. And, again, I don’t usually like to read things to you. But here, here are the rates of return today. Even after all these things that happen. So we had five pieces, they were up 8.7%, 7.4%, 7.2%, 6.2% and 4.2%. You have to realize in the context of long term market growth, the S&P 500 average is about 11% a year. Some of these pieces today that we own in our portfolio went up almost that much today. And this is on top of really, you know, good runs here.
Obviously, with the Senate moving to the Democratic side, the thought process is that they might be able to get through these stimulus packages for both the broad market which would help but then certainly, this infrastructure is Clean Energy Infrastructure Program. So really interesting day today, I don’t think that the drop that happened at the end of the day is that significant. Everything was higher, those numbers that I just gave you about the Clean Energy were much higher at one point in the day, one of them was up over 12% today, usually when you see something like that run up, and then there’s this temporary downturn, you’ll often see him come back to that high again.
So we might continue to see some good gains out of our Clean Energy piece. And we did see some technology sell off here because I think you know, there’s some threat there in terms of taxation and or regulation. But really, you know, you’ll be very pleased if you go look at your accounts today, versus what the market did, in my opinion. For the most part, I think things went really well for us. So that’s what happened today, crazy day all together, some historic things that are happening. Let’s see how this plays out tomorrow. Look forward to talking to you then. Thank you very much.