PANIC. UNCERTAINTY. WORRY. These are but a few of the wide range of emotions that Americans have felt in the last few months, all while investors are having to digest financial markets changing at the “speed of light.” We all know what happened. The virus. Economic uncertainty. Racial unrest. As I write this article, the Dow Jones Industrial Average is just above 26,000. The S&P 500 Index is around 3,100 and change, and the NASDAQ closed at approximately 9,910. Where they will be when you are reading this is anyone’s guess.
On March 13th of this year, after a precipitous drop in the financial markets, I wrote, “My financial services career began in 1982. Now here I sit, thirty-eight years, an additional twenty pounds and a lot of gray hair later. During those times, the financial markets have experienced the 1987 crash, the bursting of the dot.com bubble in 2000, the bear market of 2000-2002, the Great Recession and market collapse in 2008-2009, and 9/11. Those were all scary times. Each time, when the markets recovered (they always do), I would tell myself to learn from the past. Now fear has returned to the financial markets… (yet) history has proven that the time to panic is not during the crisis. Statistic after statistic tells us to ignore our emotions.
Be objective. Stick to our plan for financial security.”
Stocks reached a low on March 23rd. The Dow Jones
Industrial Average has soared 40.5% higher since late March, the S&P 500 has climbed 39% and the technology-heavy Nasdaq Composite Index has risen more than 44%. Volatility has returned to record levels. Uncertainty and fear exist at every turn.
Now, like never before, investors need sound financial
advice – to help you plan for an uncertain future, to keep you from overcoming to your emotions, to be by your side through economic and market turmoil. Give us a call.
We would be honored to help.
And let’s all try harder to be interested in others, to ask questions and listen. To say please and thank you. To pay compliments to and respect other opinions. To be grateful.