How We Can Help
Just like you, we have been watching the news on the coronavirus (COVID-19) and the effect it’s had on our health and economy.
We know you are concerned about what you are seeing and hearing. It's completely natural to feel this way under our current circumstances. In your investing lifetime, you may only see a situation like the recent novel coronavirus a few times. This is a circumstance where complete candor is necessary. The truth is that we can’t yet gauge the full economic impact, and by the time we can, the volatility may have passed.
In terms of market declines, the recent drop isn’t unprecedented. In fact, in the last six day-to-day declines of 3% or greater, the market rebounded higher a month later. Past performance is no indication of future returns, and it’s uncertain whether history is a good teacher in this instance.1
The Markets have the Virus
Right now, markets are reacting to the news because the outcome is unknown. In a way, coronavirus has “infected” markets all around the world. In times of market uncertainty, some traders believe the best approach is to sell. Fear is driving decisions.
Nobody would blame you if this uncertainty gave you a bit of anxiety, as well. This may be the time you need a trusted financial professional most. During most volatility, we advise you to “stay the course,” and that generally proves to be the best course of action. In times like this, however, it’s easy to question conventional wisdom.
Remember, we are here to help you and your family during this time. Whatever decisions you make, please allow us to support you through them. Feel free to reach out to us with any questions or concerns.
1. wstreet.com, February 27, 2020
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