First Quarter 2020

Comments and Opinions

The longest bull market in US stock market history ended suddenly this quarter with the emergence of Covid-19, a novel coronavirus, originating in China and growing into a global pandemic.  The effects of this pandemic have changed our lives both socially and economically in ways we could not imagine just several short months ago.

We are now Socially Distancing and isolating ourselves to prevent the spread of the virus.  Schools have closed, many employees are working from home, travel has been disrupted, many small businesses have had to close for the foreseeable future, and first responders and medical personnel are battling equipment shortages and placing themselves in danger.

The economic fallout from this has yet to be determined.  Corporate earnings and unemployment for February and March will reflect the immediate toll the virus has taken on our economy.  The impact will stretch into the Second Quarter and beyond.  Market volatility will most likely continue during the uncertainty and recession is likely.

However, research on a vaccine has been ramped up across the world, Congress has passed the

CARES Act Economic Relief Plan (Coronavirus Aid, Relief, and Economic Security Act.), corporations are working to adapt and provide needed equipment and supplies to hospitals, and communities and individuals are doing their part to help those affected.  

Our healthy economy was shut down out of necessity to slow the spread of the coronavirus.  Once it becomes clear that the rate of new infection has begun to flatten we feel that confidence will begin to return and the engine of the economy will start to ramp up.  Looking ahead, businesses will reopen, employees will return to work, and people will create demand for goods and services.  As we wait for this to happen, we believe our value as your financial advisors is most important during these difficult times.  We have weathered difficult economic situations in the past and are here to advise you now and going forward.

We urge you to become informed on the provisions of the CARES Act and how it may apply to you or your business.  Please be aware that Section 2203 of the CARES Act provides a Temporary Waiver of Required Minimum Distributions (RMDs) for year 2020 for most retirement plans.  We recommend you consult your tax professional before making any changes to your retirement distributions.

We hope the charts on page two are helpful in providing you with some perspective and we encourage our clients to call us with their questions and concerns at #508-240-0320.

This is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation of any products or services. Opinions are subject to change with market conditions. The views and strategies may not be suitable for all investors and are not intended to be relied on for legal or tax advice. Investing involves risk including loss of principal.


Tel:  (508) 240-0320      FAX:  (508) 240-2309

Securities offered through National Securities Corporation, member FINRA/SIPC.  Advisory services offered through National Asset Management, an SEC registered investment advisor.  Fixed Insurance Products offered through National Insurance Corporation.

Investing involves risk including loss of principal.