Notes to Know: Innovation Triumphs Over Economic Volatility

"If I'd have had more time, I'd have written a shorter letter" ~Blaise Pascal

Our colleagues at Alger Capital recently shared this insight: The source article can be found here.

Innovation Triumphs Over Economic Volatility

History has shown that Innovation flourishes in the face of a languishing economy:

Through the 1918-1919 “Spanish Flu” pandemic/recession, the economy faced devastating challenges. However, ownership of automobiles grew during this time at a double-digit rate.

  • During the 1950’s “Asian Flu” pandemic/recession, television ownership exploded.

  • Through the early 90’s recession, real GDP grew by only 4%, while personal computer penetration grew by 43%.

  • Through the more recent Global Financial Crisis of 2007-2008, Smartphone ownership exploded, and market-leading companies began to thrive.

In short, even in times of tremendous economic stress, there are innovations that bring opportunities to society…and investors as well.

Make It a Great Day!

The information contained within is the view and opinion of the author as of the date it was written, and not necessarily of Cascade Financial Management, Inc. Such views are subject to change without notice. Cascade has no duty or obligation to update the information contained herein.

This is for educational purposes only and should not be used for any other purpose. It is not intended as planning or tax advice for any individual or entity. It does not constitute and should not be construed as an offering of advice or an offer to sell, or a solicitation to buy any services or related financial instruments or advice of any kind. Your tax and financial situation is unique and you should not take any action or make any investment decision without first discussing your particular situation with your CPA, tax, or legal advisor.

Certain information contained herein concerning economic trends and performance is based on, or derived from, information provided by independent third-party sources. Cascade believes the sources from where this information has been obtained are reliable, however it cannot guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based.

Any distribution, use, or copying of this information by anyone other than the intended recipient is unauthorized.

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