News & Information
1st Quarter 2020 in Review

Just one word has changed everything – Coronavirus. It came out of left field and our treatment plan so far is to essentially shut down our economy. Unless and until we find a cure/vaccine, the drastic measures are likely to stay in place and continue to cripple our economy. Indeed, things may well get worse before they get better. We trust you and your family will be safe and healthy.

The COVID-19 quarantines and social distancing are creating massive uncertainty for investors. Uncertainty causes investors fits, and the knee jerk reaction is to sell. Unfortunately, this has resulted in a swoon in stock prices while turbocharging bond prices. Volatility and the rapid downturn have since excessively scared investors which can lead to reversals. Indeed, we had a nice bounce at the end of March but it is not likely an indication of an all clear. Unfortunately, periodic bounces are typical in bear markets.

What do we recommend? When flying planes, I was taught the first rule in an emergency is to keep flying the plane. In this case, flying the plane would be threefold. First, it is important to review allocation levels. This may be a good time to raise or lower equity levels depending on your risk profile. Second, it would be wise to be sure you are well diversified. Fortunately, all of our Managed Accounts and Funds are diversified. Lastly, we suggest using the opportunities as they arise. When prices are down, perhaps adding to portfolios; when prices have dramatically risen, perhaps trimming back as you normally would. We have been trying to follow those concepts in overseeing your Funds.

Market Outlook

We know this situation will come to an end, and the economy and markets will rebound. It may take some time, but the situation will change. We are currently looking into opportunities in sectors and individual stocks we think will benefit as we recover. These volatile times can be viewed in two ways, with confidence or fear. We have seen many bear markets over the years and we are confident opportunities are available in many areas. We will try to take advantage of them on your behalf.

IRA Changes

The new stimulus bill makes some changes in Required Minimum Distributions for IRAs. Please check with your tax professional to see if it applies to you.


Opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendation for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.
Market Update March 2020 
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Market Update December 2019 
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Market Update September 2019 
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Market Update June 2019 
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Market Update March 2019 
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Market Update December 2018 
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Market Update September 2018 
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Market Update June 2018 
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Market Update March 2018 
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James Economic Outlook 2018  
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Market Update December 2017 
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Market Update September 2017 
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Market Update June 2017 
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Market Update March 2017 
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Market Update December 2016 
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Market Update September 2016 
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Market Update June 2016 
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Market Update March 2016 
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Market Update September 2015 
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Market Update June 2015 
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Market Update March 2015 
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Market Update December 2014 
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Market Update September 2014 
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Market Update June 2014 
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Market Update March 2014 
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Market Update September 2013 
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Topping Markets June 2013 
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Market Update June 2013 
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Market Update March 2013 
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Market Update December 2012 
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James Economic Outlook 2013 
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Market Update September 2012 
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Why Own Bonds? March 2012 
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Market Update March 2012 
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Market Update December 2011 
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Market Volatility August 2011 
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How to Offset Inflation May 2011 
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Market Update September 2011 
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No American Default July 2011 
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Economic Slowdown June 2011 
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Topping Markets January 2010 
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New Stimulus Won't Cure Economic Woes July 2009 
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Rally at Hand December 2008 
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Weathering the Storm
October 2008
 
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Buy Stocks Mar 2008
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No Quick Fix Jan 2008 
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Further Declines Ahead July 2007 
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James Economic Outlook 2012 
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James Economic Outlook 2011
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James Economic Outlook 2009
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James Economic Outlook 2008
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James Economic Outlook 2007 
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James Economic Outlook 2006 
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James Economic Outlook 2005 
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James Economic Outlook 2004 
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James Economic Outlook 2003 
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