I trust everyone enjoyed the weekend – for those of us in Ontario, it was so great to see some grass and get outside to enjoy weather. Spring is around the corner!!
The news flow over the weekend was certainly overwhelming.
Most of us have friends and family that are abroad…many of you had plans for March break with the families. The majority of our clients have businesses that consume your time and your energy. The news we have heard all weekend and into this morning will have an impact on your plans and your strategies over the next number of months – indeed, overwhelming.
We are here to help
As your financial Partners, our job at Henderson Wealth is that of Wealth Management AND Advisor.
On the Wealth Management front, you all are aware that we have already batten down the hatches to ensure your portfolio can weather the storm. As my email last week highlighted, there’s going to be lots of investment opportunity for us amid this uncertainty. We are well positioned and will be working to preserve and grow your capital with patience and calm discipline. Trust that we are managing this for you, so you can focus wellbeing.
On the Advisor front , my job in these times becomes even more important and pronounced as the dramatic steps being taken around the globe affect you all – I want to reaffirm you that we are hear for you, here to offer advice and perspective. Again, don’t hesitate to call if you need advice.
I’m going to be communicating to client in daily letter like this over the next few weeks, not to add to the statistical news flow you are already being bombarded with, but to add some perspective to how things are unfolding and ensuring we are all approaching the impact and challenges from this global health crisis with calm perspective.
Again, there is opportunity amid this uncertainty
After a wild week in the markets, we have seen the fastest decent from all-time levels on record from the two big exogenous shocks, the oil price and the coronavirus. After watching the historic press conference last night from Trump and the Fed slashing rates and the steps being taken around the globe overnight (yes, I’ve been up watching) we know we are in for another wild week. Markets are looking very red this morning. Buying opportunity --- Yes! …but not just yet!!!
History suggest it will get worse for markets before we recover, but we are finally seeing steps from governments around the globe taking this seriously. The pain will continue as we shut boarders and businesses down for weeks, but I know now we will see the government intervene. This will prove positive steps in the right direction.
History also tells us that when markets move this quickly, they usually finish their adjustment in short order. In general, stock markets spend most of their time climbing slowly, punctuated by sharp corrections. I’ve never been more enthusiastic about inventing and will continue to manage portfolios with our defensive long term mindset.
We are managing this for you, that is our business and we are taking care of this for you. We want you focused on your business, your families and your friends, maintain the same calm, patience and approaching the week with perspective.
Now, more than ever, we have to embrace an infinite mindset and embrace generosity, selflessness and calm caution as we all navigate this together