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An Update on the Stock Market

We witnessed an extraordinary move in the financial markets this week.  This week, oddly enough, included March 9th, which is the eleventh anniversary of the bottom of the bear market of 2007-09.

The S&P 500 closed Thursday down about -27% from its all-time high on February 19th as Coronavirus fears continued to worry investors. At the same time, oil prices lost nearly 25%, on news that Saudi Arabia was dropping crude oil prices and raising production as well. Meanwhile, the 10-year Treasury bond yield touched an all-time low this week, as investors looked for some stability.

In times like this, we frequently hear that some find it difficult to stay committed to an investment program when fear has gripped the financial markets.

As we all know by now, the drivers of this decline have been:
  • (a) the outbreak of a new strain of virus, the extent of which can’t be predicted,
  • (b) the economic impact of that outbreak, which is equally unknown, and
  • (c) most recently, the onset of a price war in oil. (Lower oil prices are surely a problem for everyone involved in the production of oil, but it’s a boon to those of us who consume it.)
The common thread here is unknowability: we simply don’t know where, when or how these phenomena will play out. And in our experience, the thing in this world that markets hate and fear the most is uncertainty. Although we have no control over the uncertainty, we can and should have perfect control over how we respond to it.

Or, ideally, how we don’t respond. Because the last thing in the world that long-term, goal-focused investors like us do when the whole world is selling is – you guessed it – sell. 

In the past few weeks, we’ll admit that we’ve done a few “double takes” at our computer screens, as we’ve watched major swings in stock prices and movements in the bond and crude oil markets.

But just like always, we are here to help you and your family answer any questions that might surface. Whatever decisions you’re considering, we’d be honored to support you through them. Reach out to us anytime.
 

Special Podcast Episode

Due to recent news and events related to the Coronavirus and oil price shocks, we decided to record a special episode of The Invested Dads Podcast. Earlier today we released this podcast episode to help keep your mind at ease during these crazy events.

On this podcast three members of our team, Josh Robb, Austin Wilson, and Adam Zuercher discuss:
  • updates to the status of the virus
  • the impact to the economy
  • the impact to your financial plan
  • and much, much more!
You will hear what we think about the bear market in stocks and what you should do going forward!
 
This podcast episode is also available on all major podcast listening platforms.
 

Important Health Policy Update

We are committed to protecting the health and safety of our team members, their families, and our clients. Therefore, we have implemented the following policies and guidelines that are in effect immediately: 

We will have no in-office meetings. All client and prospect meetings are to be held on Zoom or by phone through
Monday, April 6th. We are scheduling in-office appointments for April 7th or after, but please note these dates could change.

We have always had the option of virtual meetings via Zoom for clients who don't live in Northwest Ohio. So, we already have the capability. Clients who meet with us on Zoom have given us excellent feedback. 

If you wish to meet with us and you are unsure about using Zoom or virtual meeting technology please be assured that we are here to walk you through the process. Also note that it's not required. We are happy to have a phone call without the video or screen sharing.

There could be exceptions to this policy (someone needs to sign something, needs something notarized, etc.), but any exceptions will need to go through an approval process before they are allowed. If you have a request for an exception to our policy please call 419-425-2400 or email hello@hzcapital.com.
 

Contact Us

Our team is here to serve you during these times. We've been on the phone with clients all week. We've done our best to have conversations with every client. If we've missed you and you have questions or concerns please don't hesitate to reach out to us. Our Wealth Advisors are standing by to discuss your situation and investment objectives. 

Sincerely,
 
Hixon Zuercher Capital Management
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