Mission Statement:
To financially empower our clients so that they can achieve their most
important goals and to confidently plan for the future that they envision
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Jarring. Head spinning. Shocking. Astonishing. Unprecedented. Boggling. Haywire. Information overload. But none of these words comes close to Pandemic.
This week is one for the books. And there is scant evidence that we're about to turn the corner. The stock market buckled, the public stocked up on consumer staples, school districts closed, nursing homes disallowed nonessential visits, international arrivals to the U.S. have been curtailed or halted, travel plans have been cancelled, and sports seasons ended early. And now, the President has declared a national emergency over coronavirus. The number of coronavirus infections is expected to skyrocket once testing becomes widely available.
It's weird writing about this.
This is also the first national emergency in the age of Facebook and widely available "WFH" (work from home) technology. Both of these will keep our minds occupied, but the latter should help us maintain some semblance of productivity and normalcy. But you can't work on a Ford assembly line from home. Same goes for the entire American industrial complex.
Moving on, you cannot initiate economy crushing safety initiatives without harming the economy. But you can't have an economic recovery until the coronavirus is defeated. This is the bitter medicine that economic participants need to swallow in order to get back normal. In that regard, the downturn in the stock market is justified, even if we could see the other side of the valley. This year was supposed to be the year that increasing corporate earnings was supposed to justify 2019's stock market run. Now, we are relying on 2021 earnings to pull stocks out of the 2020 slump. In that regard, this cycle is playing out like any previous cycle, albeit much faster. Rising expectations, missed expectations, and back to rising expectations. Rinse and repeat.
I feel fortunate to have had Aoifa O'Donnell as my guest this past Wednesday on my Be The Boss of Your Money vodcast (video podcast). The topic is super timely -
Coping with Coronavirus Anxiety in the workplace and home. She is a NY State licensed therapist, social worker, and CEO of National EAP, Inc., which designs EAP (Employee Assistance Programs) for companies throughout the U.S. We spoke deeply about the toll that current events are taking on people's mental health. Both employees and employers need to be up to speed on their EAP benefits. Plus, she gave tips and strategies to deal with the anxiety. Check out this video of our conversation and hear her tips. This is a 10 minute, edited version of our 35 minute conversation, which you could watch under POSTS on my LinkedIn profile or the ClientFirst Strategy Facebook page.
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On another note and as you could imagine, the extreme stock market volatility has garnered a lot of interest from the media. From the past week is a TV appearance with News12 Long Island and my comments in NBC News.
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I've been live streaming on LinkedIn, Facebook, and YouTube at 4:30 PM ET everyday to give a clear perspective that ties together all of the unprecedented news and information that's making the rounds; economic, investing, personal finance, commentary. It's a great opportunity to share with you my 30 years (and growing) of experience as a financial advisor. This will continue every day, so please join me. Ask me your questions in the comments and I will definitely get back to you. You could also catch the replay. Here's the one from yesterday, when the DOW dropped the most points in a singe day since 1987. It's lit!
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Last, some people may feel anxious, isolated and lonely due to the whirlwind of coronavirus news. Please call someone you know who lives alone and see how they're doing. It could really make a huge difference for that person. Remember, not everyone is a digital maven.
Thanks for being on my email list. Please forward this to someone you think would appreciate it. Connect with me on LinkedIn and subscribe to my YouTube channel.
Stay safe out there.
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Want to schedule a phone appointment with me to speak about your financial goals? click the "Let's talk" pic.
Or email me directly:
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I opened ClientFirst Strategy, Inc. because I believe that the only way to help my clients potentially achieve their goals is by offering unbiased advice & investment management expertise. To my clients, thank you for your continued vote of confidence. If you are not a client but would like to explore the possibility of becoming one, I invite you to call me directly, visit my website, join my email list, and/or connect with me on social media.
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Mitchell O. Goldberg
AIF®, AAMS
President | Investment Professional
OSJ Manager
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ClientFirst Strategy, Inc.
290 Broadhollow Road, Suite 200 E, Melville, NY 11747
(D) 631-920-6622 (F) 631-920-6624 (C) 516-818-0338
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All the views expressed in this report/commentary accurately reflect our personal views about any and all of the subject securities or issuers and no part of our compensation was, is, or will be, directly or indirectly related to the specific recommendations or views we have expressed in this report. This material is not intended as an offer or solicitation for the purchase of sale of any security or other financial instrument. Securities, financial instruments, or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Prices, values, or income from securities or investments mentioned in this report may fall against your interests, and you may get back less than the amount you invested. The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision. You should consult with your tax adviser regarding your specific situation. Diversification is a method of managing risk and doesn't protect against loss in a down market. The S&P 500 and Dow Jones Industrial Average are indexes. It is not possible to invest directly in an index. *The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. **The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy.
Securities and investment advisory services offered through NEXT Financial Group, Inc., member FINRA/SIPC. ClientFirst Strategy, Inc. is not an affiliate of NEXT Financial Group, Inc.
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