Kevin comments from March 18, 2020
Many of you expected that I would be away this week in Florida. We thankfully decided at the last moment to cancel the trip and stay home.
Wow, another tough day in the markets as the anxiety and fear surrounding the Covid-19 pandemic gets reflected in company valuations. We have been speaking to many over the past number of days and will keep trying to reach out to those we haven't yet spoke to as soon as possible. When the markets get like this, rational analysis is left to the wayside by sellers and fear is firmly in the driver's seat. It is very important at times like this to remember that there are two sides to every trade in the market - for every investor willing to sell at a given price, there is someone just as willing to purchase at that same price. There are equally as many investors buying today as selling - it can't be any other way. I am certain that the benefit of time and hindsight will show that those buying in these current markets (or just hanging in there and not selling) will be proven correct. The short term is emotional and frankly crazy...but as time passes and this health scare eventually lifts, the tremendous value of many companies down here will be readily apparent. Keep hanging in there and try and look past this to the other side.
A good report out today from RBC is available at this link: Market update Mar 17, 2020 - Going to extremes
In light of everything going on in the community to try and isolate ourselves, the decision has been made to avoid allowing clients into our offices except to drop off and pick up things from the front desk. We are also trying to limit the number of employees in the office so we will be rotating the team in a schedule as best we can. Be assured that we will always have someone here if you need anything.