WhiplashSubmitted by Bond & Devick Wealth Partners on June 11th, 2020
June 11, 2020
The fastest bear market in history has been followed by the fastest recovery. You would think a firm that has been around since 1982 would have seen it all by now, but not even close. What is to be made of the stock market in 2020?
First of all, congratulations to those of you who took the long-term perspective and stayed focused on your goals and didn’t make any changes during the crisis. We believe having a plan helps clients stay the course. We put so much focus on risk and long-term performance for a reason because the future is uncertain, but our clients’ goals are not. Having a plan and creating portfolios clients are comfortable with, during good times and bad, gives them a much higher probability of reaching those goals.
This crisis is far from over so for those of you who like excitement, do not worry. We continue to expect a high level of volatility, like today for example, for a long time as the economy and markets deal with the impact of Covid-19. As seasoned investors we appreciate the lessons of history, which helps us keep short-term market volatility in perspective.
We continue to work remotely and are taking client meetings over Zoom or via phone calls. We are focused on the health of our team and our clients. We are grateful that technology allows us to stay connected to one another and we can continue to provide the same quality advice and service our clients have depended on over the years (we have a handful of clients who have worked with us for almost 4 decades!).
Enjoy the warmer weather and stay connected to your friends and family.
Take care and be well,
The Bond&Devick Team