Dear Friends,

We have all been getting bombarded with COVID-19 updates – even our electronic document management software company sent an update to tell us they are working from home even though we have never interacted with them on a personal basis.  They said they just felt like they needed to send something out because everyone else is doing it!

“Self-quarantining” and “Social Distancing” are important recommendations during this critical time. However, we believe it is also important to note the risks of isolation so that we can help mitigate their impacts. Given that we are emotional beings, it is very natural to be fearful in times like these. Behavioral Finance teaches us that we often act irrationally especially when it comes to money.  Therefore, we believe we need a community around us to encourage and support each other. Speaking to the power of community, Hellen Keller once said, “Alone, we can do so little; together, we can do so much.” We want to be part of that community with you that is striving for solutions and not exacerbating the problem.

While we don’t want to make light of what is a serious situation, we want to be a source of encouragement and positive reinforcement. We hope you’ve been able to find some good out of all this. Maybe you have found a little more margin in your daily life, maybe you’ve been able to spend a little more time with family, maybe you’ve taken a relaxing walk, set new priorities, or caught up on some things.

History has shown us that we are forgetful people, which is why we are at our best in a community of people working together for the good of each other. Believe it or not we have had several pandemics in the last 80 years and although every situation is different, they hold clues and provide precedent that we will get through this, and ultimately thrive again. Both the 1957 Asian Flu and the 1968 Hong Kong Flu killed over 1 Million globally and 2009 H1N1 killed between 200,000 and 500,000.  So even though we didn’t have social media hysteria back then, it was severe and markets recovered.

We believe that this will pass, although it likely will get worse as the markets come to grips with national quarantines.  Some of these great companies and smart people will develop a vaccine sooner rather than later, and we will have wanted to stay strong and hold on or even step into the turmoil and provide some calm.  Our prayers are with those who may be directly impacted by the virus and the resulting disruptions linked to over-reactions of a society wracked by fear. We also want to remind you that we are here for you and happy to schedule a time to catch up and discuss your specific needs/priorities. Let’s encourage our neighbors and together we will get through this.

Mitch and Destin