Welcome to 2 Question Tuesday. This week’s client submitted questions were:

1. Do you think stock valuations are very high?
2. Will California snowstorm affect the U.S. economy?

Phil, Mike, and Larry discuss why the Dow Jones Industrial Average gave up all this year’s gains. Partly it’s hotter-than-expected inflation numbers, but also valuations. They talk valuations and Bloomberg saying, “the S&P 500 is roughly 20% more expensive than it ever was during the Internet bubble.” After that they consider the storms hitting California and whether the wreckage has a big impact on the economy.

Submit your questions to question@2questiontuesday.com

As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.