April 3rd, 2020
Greetings from a distance!
First, we want to say thank you. Thank you for your patience and not pushing the panic button.
I said the other day, when you come to a cliff the best thing to do is to not jump! The same is true with the economic shut down.
We feel very strongly that a recovery is in our future and it’s worth waiting for. There are many reasons for this and we can discuss them anytime.
At this moment, the S&P 500 is at 2600 as quoted real time by the letters SPX. This represents a decline of 20.19% from 3257.85 as of January 2nd.
This first half of April will likely produce some scary numbers. First, Corona numbers followed by unemployment numbers, then economic numbers, and ultimately corporate earnings.
If history repeats itself, then markets will recover and probably more quickly. This is the primary reason we don’t chase it.
We are focused on 3 things for you.
1. Make sure your income is protected.
2. Own high quality stocks.
3. Take positions now to be where we need to be when things turn.
Stay calm, stay safe, call with questions.