We hope this email finds you and yours healthy and safe.
Daily volatility shows no signs of ebbing as the US and the rest of the world are continually implementing drastic measures to combat the spread of COVID-19. The market is attempting to price the economic repercussions of these measures while investors are panic selling and fleeing risky assets. The result is unprecedented highs in the CBOE Volatility Index (VIX) and significant swings from day to day. The fiscal response will also be unprecedented, and we anticipate details of a stimulus package within the next couple of days. We will send future correspondence with any details impacting our clients.
In the meantime, we have faith that our biotech and health care professionals are working diligently around the clock to develop treatments and vaccines to combat this virus.
We have always managed investments in a disciplined long-term strategy, allocating equities only to the portion of the portfolio reserved for the long-term. As with any market correction, when we come through the other side of this is when the greatest opportunity to build wealth exists. Investors who can remain calm during chaos are rewarded over time. As always, please contact your team members for advice and concerns.
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