The weather is hot, but it still doesn’t feel quite like summer. In this commentary, we are going to look at what’s been missing from the season.
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One (of many) things I’ve learned from the compulsory homeschooling forced upon us by the quarantine is that homeschooling is difficult. Setting aside the environmental and psychological aspects (the role of “parent/teacher” is wildly unpopular in our house for all parties) some subjects, such as English, are quite challenging.
News is coming fast and furious these days—so much so, it’s difficult to remember the morning news in the evening (much less what happened yesterday or last week). Day-to-day planning has taken priority over long-term financial planning, and it’s getting easier to lose sight of the forest through the trees.
Lost among the shocking headlines we saw last quarter was the passing of country music legend Kenny Rogers. For those of a younger generation, he wasn’t just the man who made “a pretty strong bird” on a legendary Seinfeld episode. I remember my grandparents listening to his albums on the record player when I was little. One of my friends owned this thing, which played The Gambler, and was used any time someone at our weekly poker game was taking too long to make a decision (I may need one of these for my office).
With the caveat that our background is in investments, not epidemiology, we wanted to share a little historical perspective on prior market reactions to pandemics as well as provide some perspective on what is happening currently.
The markets remain volatile—slightly up one day, down the next, rinse, wash repeat—and frankly, we expect this to continue until news surrounding the Coronavirus stabilizes. There are many predictions and opinions about when that could happen, but we are not virologists or pandemic experts. We do believe with more testing will come more cases which means to us, any true normalcy in the markets and life, is probably at least a few weeks away.