Market Update: March 27, 2020

Unreal times...

I am sure many of you can relate. I have stepped back a few times and thought how quickly everything has changed. One thing that hasn’t changed is how busy work is! We have reduced our team at the office to myself, Dave and Gary. The rest are home helping out where they can. We all want to see you get through this crisis healthy and your wealth protected. So far, I feel good about how everything is holding up. We will be watching for any potential cracks in the portfolio or opportunities to capitalize on a daily basis.

One problem child…

As mentioned, we are constantly reviewing performance and looking to find opportunities as well as measure risk. The 10% we had allocated to an options strategy in your portfolio performed below expectations in the decline. After meeting with the manager and reviewing why the performance was not as expected and discussing his plan for recovery we determined that this put your capital at too much risk. We sold this position and have put the proceeds are in short term investments (high interest savings account). This will be redeployed when the charts suggest it is safe to do so.

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