We’re all witnessing some unsettling events right now. Dijana Tara and I wanted to reach out this morning to let you know that we are here, and if any of you wish to reach out and discuss your portfolios, please contact us directly.
Dijana: 905 546 5027
Tara: 905 546 5886
Rob: 905 546 5401
I also wanted to communicate to all of you that all three of us have the ability to remotely sign on and work from home. We each have access to all our systems, so regardless of what further developments transpire, we will be able to continue to manage your wealth.
With regards to the markets and your portfolios, here are some points I’d like to make:
- We have built stability into all our portfolios, even the aggressive ones, but especially the balanced and conservative ones. For those of you drawing an income, hopefully you now see why we built a 12 month cash reserve in, with a GIC/Fixed income buffer on top of that.
- The market trades on emotion and it’s going to do that today. What the market will do day to day I do not know, but I feel confident that this will pass.
- Everyone will be naturally concerned about the volatility but the valuations are already significantly down and they are entering territories that don’t make a lot of sense. Think about Utilities, or telecoms- what sort of impact would a virus have on their business? Little. Now think about health care companies or grocery stores. Though they’ve been resilient, all of these have seen big swings in their day to day value, and I’m not sure why.
- The last major market swing was caused by a near collapse of our financial system. This is not that. Every correction and recession in the history of time has recovered. Those that stayed invested and stuck to the plan recovered and excelled. Those that pulled out when things were bad or at their worst, did not. For some of you one of the healthiest things to do right now for your own sake, may be not to watch it.
As you can imagine we are busy right now and are working through and reaching out to our clients. For those of you we haven’t been in contact with yet- we are here if you want to talk things over- even if it’s for friends or family members, please give us a call.
Rob, Dijana and Tara.