Broker Check

COVID-19 Update

In your investing lifetime, you may only see a situation like the
recent novel coronavirus (COVID-19) 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.
It’s important to remember that, 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.

Markets Have the Virus
Right now, markets are reacting to the news because the outcome
is unknown. In a way, COVID-19 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.

You Don’t Buy Snow Tires in a Blizzard
By working together to develop an investment strategy that fits
your risk tolerance, time horizon, and goals, we have been
preparing to weather turbulence. When a blizzard hits, the people
who already own snow tires are usually happier than those
venturing out into the cold, hoping they’re still in stock. In the
same way, it’s generally best to make decisions during periods of
low market volatility. We’re in the middle of the storm right now.
Here to Support You
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, I am here to help you and your family during this
time. Whatever decisions you make, please allow me to support
you through them. Feel free to reach out to me with any questions
or concerns.

From Your Advisors At Accel Wealth Management