Needless to say this has been “unprecedented, worst” economic situation we’ve all seen. I’ll be glad if I never hear those overused words again. It’s hard to say when this will all be over, but I look forward to the hopeful day when we will all look back on this and how grateful we are for our friends and family. Obviously, our portfolios and plans have gone through a hurricane of sorts, but I believe our society will bounce back.
Here are some of the numbers for the first quarter: Dow: -23%; sixth worst quarter ever after 1987 actually; S&P 500: -20%; Financials/Banks: -32%; Exxon:-46%; International/EAFE: -23%;
We are getting several calls from some of your colleagues and family members who are seeking advice or planning/attention from their advisor and want our opinion. In my experience, market volatility and uncertainty has created opportunity for us to show our value in planning, as it pertains to your investments, estate/tax planning, IRA/retirement advice, social security advice, 529/education savings, and long term care/life insurance needs. Keep them coming!!
SWM news: Allison has been working from home and staying healthy. She got a set up with 2 monitors (she took one from her son) and headphones, and her line rings through to her cellphone.
Kevin is the lone soul in the office and is continuing his work on financial plans. With 2 young children at home, I think the office might provide him more peace…I’ve been talking to all of you for nearly 3 weeks now at home. I’ve set up an office with 3 monitors and my Airpods are getting a workout. Unfortunately, I’m in the high risk category with asthma, and am staying out of harm’s way.
For some humor, take a look at this hand washing message from an ICON: https://www.youtube.com/watch?v=sPLgsV_Ms3Q
Stay well and bunkered!
April 2020: https://madisoninvestments.com/assets/img/resources/EquityMarketPerformance-1Q20.pdf
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