What a quarter it was, of course, dominated by the uncertainty of the Coronavirus. Please see the Market Review here and our Model Portfolio Performance here.
Markets tumbled and then rose quickly though as of 3/31/2020, they were still below the recent all time highs. They’ve recovered more since then.
Our same market outlook is in place: “The market will move down and up, up and down, on its way up long term.” This is always true.
Also true is this: “In the entire history of the market, every single market decline was followed by market increases eventually leading to new market highs.”
We hope these facts, these truths, will soothe you and you will appreciate this video: https://bit.ly/2KcAaGH
During the March market decline, we rebalanced clients’ portfolios several times including when most parts of the market hit a low on or about March 23. Hopefully that will be the low of this cycle, but we can’t know. If we need to rebalance again, we will. Meanwhile our clients are enjoying a more rapid increase in portfolio value than they would have otherwise as markets have increased after the low point.