ACT I
We open the year with guarded optimism about the future. The markets are relatively calm. We maintain our usual routines while something lurks just out of sight.
ACT II
February brings a celebration; the S&P 500 hits a record high! The excitement is palpable, but now we question if it is too good to be true. Rumor has it something is coming our way, but we want to stay at the party. We will think about that tomorrow. Just days later, the first signs of trouble appear as markets skid off course.
ACT III
Chaos ensues in the month of March. The threat has revealed itself and the bear market rears its head within a few short weeks. Our hero, the Fed, drops interest rates to buy us some time. We look over our shoulder to find nothing there. An eerie calm hangs in the air… we take a breath. Things are looking up again, but then… we fall in a hole. Rescued (again!) by stimulus packages and government promises.
We are cautiously moving forward. Have we seen the worst? Are we at the end of this scary movie? Or is there a sequel around the corner?
I can not answer these questions, but I do know we are in this together! One of our goals in planning is to prepare our clients for challenging times such as these, both financially and mentally. We continue to work hard behind the scenes and hope you all are staying safe and healthy.