On it with Offit
BY BEN OFFIT, CFP®
Ben Offit will speak with the Comptroller of Maryland, Peter Franchot, about the Coronavirus Market Update in an event on March 24th in Baltimore – this will be a live broadcast. Please see the flyer and the registration links below.
Eventbrite: https://www.eventbrite.com/e/the-economic-impact-of-the-covid-19-pandemic-in-maryland-tickets-99229394791
Facebook event: https://www.facebook.com/events/527367291129256/
Current Market Thoughts
So what should you do as an investor?
This may be the first COVID-19 crisis filled with uncertainty, but it is not the first market downturn created by uncertainty. In fact, there is only one thing all bear markets have in common: they come with a large dose of uncertainty:
1. With 9/11, many feared the economy would take years to recover.
With the Greek Debt Crisis, many feared it would lead to debt defaults all over the world resulting in a global recession.
When United States treasury bonds were downgraded, many feared it would result in a lack of confidence in the United States and plummet us back into recession.
With Brexit, many feared Great Britain would collapse as a global financial center, driving Europe, and with it the world, into recession.
In all cases, we got through it.
Meanwhile someone who went to cash to “wait things out” got burned, missing the time to get back in (which is nearly impossible to do).
We will not all die. There will be a recovery. When the recovery comes, pent up demand will return, and there will be businesses eager to meet that demand. And the economy, and markets, will do what they always do: march onward. And if you can stay engaged, you are far more likely to march on towards your goals than if you try to time your way through this.
It’s been said that there are two types of soldiers in the Army: those who can shoot at the range and those who can shoot when being shot at. We are the latter. We are prepared for markets like this and so are you. This is why we have a plan. This is why we have a strategy. Not for the easy up markets, but for markets like this one. Now is the time to push through it, however long and painful it may be, and come out on the other side.
I hope this has been helpful in keeping communication ongoing. Please reach out to us with any questions or concerns.
Sources: Peter Mallouk
Offit Advisors
28 E Susquehanna Ave
Towson, MD 21286
Phone + Fax: 410 600 PLAN (7526)
E – BOffit@OffitAdvisors.com
W- www.OffitAdvisors.com
To schedule an appointment with us, click here!
The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
