You hear from me usually every Friday… but have I ever asked
“Are out of toilet paper?”
If you have not seen the store, there is a run-on toilet paper.
This is March Madness.
We are no longer in a bull market.
US stocks are down 20%+ from their highs… which by the “official” definition, snaps their longest-winning streak in history.
The news coming out today about the coronavirus is surreal…
The NBA, MLB, NHL all just postponed its season
March Madness aka College Basketball Championship has been canceled.
Grocery stores are emptying out…
Concerts, festivals, and conferences across the world are being canceled.
No inviting 501 of your closet friends to dinner in NYC or going to Broadway for a show.
And several cities, including Seattle, look like ghost towns after being put on “lockdown.”
Every time you turn around something else has been canceled or closed.
It leaves you with the feeling of what’s next.
And yes, they canceled the Kenny Chesney concert today. (I heard Tina UGH all the way back in my office)
If you’re feeling nervous or flat out scared, you’re not alone.
But as novel as the novel coronavirus is, there is nothing new about trouble and challenge. The future always presents us with uncertainty. In the last 100+ years, we have had World War I accompanied by the Spanish Influenza of 1918/19, followed a decade later by the Great Depression. Then the destructive World War causing a change that lasted until the fall of the Berlin Wall.
Followed up in more recent times by the dot.com crash and the 2008 Financial Crisis.
Despite all the depressive thoughts it is more important than ever to stick to our risk management policies and our plans.
You have to be disciplined in times like this.
Everyone’s situation is different and impacts us in our own way. If you have a question about what you need to be doing in this crisis or want to understand more about how we manage and our approach to risk then give me a call.
Or if you want to talk about your personal account.
214-239-4700
Michael Tannery CPA CDFA® AIF® ● CEO
Registered Principal | Tannery & Company
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