I have been working on a new valuation article with a soon to be release date as we proceed through the Coronavirus situation. But I must admit that it’s almost laughable how mixed up the markets have been the last few weeks.
This is a snapshot of this morning’s headlines on the CNBC website. On the right side of the snapshot you have JP Morgan now believing that people will stop paying their credit cards, Goldman Sachs saying that this downturn will be four times worse than the financial crisis, and the IMF stating that this will be the worst recession since the Great Depression.
On the left, you have the stock market leaders today. Apparently, investors believe that people are lining up to go on cruises, buy airline tickets and shop for new Tesla’s.
The most amazing part of my nearly 30-year career is that I still haven’t taken up drinking. Welcome to modern-day portfolio management.
On a serious note, many people have been caught flat-footed the last month financially causing personal budgets to get into a bit of chaos along with plenty of financial uncertainty. If you have financial questions or want to talk through how we will continue to protect and build your wealth during these uncertain times, feel free to reach out.