Broker Check

The best advice comes from the ones you love

| March 10, 2020

Most people tell me that the best advice they have ever gotten was from their Dad. (or Mom) . My parents always had a great way of putting things in perspective. Some will tell you, that their grandparents were the ones who gave the best advice. Others, maybe a favorite Uncle or Aunt.   I can tell you from personal experience, my grandfather was a master storyteller and I still remember to this day the many stories he shared with me about life, about business , discipline and perspective.  As I sit in my office today, I asked myself what would the most respected people in my life be telling me now about what we are  seeing  in the financial markets?

I truly believe they would tell me that it’s time to put things in perspective. And that is why I am writing you today.

I am not a fortuneteller. I don’t have ESP. And I certainly cannot predict what will happen today, tomorrow,  next week ,  next month or in future years with any certainty.

All I can do is draw upon my experience.

As I look back in my career on some of the most turbulent times in the financial markets which include black Monday in 1987, the tech meltdown of March 2000, the markets reopening after 9/11 as well as the great recession of 2008, I ask myself” if I knew then what I know now, what would I have done differently?”

And each and every time the answer is the same. I would not have changed a thing.

I still would not have sold my investments when the markets were down. With the benefit of hindsight now, I know doing that would have been a mistake.

If I had money to invest over the longer term, I still would have invested as I did then and now I know, in hindsight, that was the right decision.

Although many might say each of the previous market drops were different, and although each was unique, they were not permanent. I believed this then and I believe this now. I know now that was  the right way to think.

I believed that the markets were resilient. I also believed that the equity markets would recover. I believed for the right person with the correct perspective, and the proper holding periods, this was an opportunity. I know now that was correct as well.

As discussed with many of you over the years, we at our firm have always valued the importance of good planning. Investments are just a tool helping us to achieve your goals.

As we have also discussed with many of you, investments for growth are longer-term. Money needed over the shorter term, is better suited outside of the equity only markets.  Shorter-term needs are better suited for shorter-term investments like money markets, bonds, CDs or savings accounts. This approach allows time for the equity/growth portion to recover over several years’ time if needed. (Not several hours, days and/or months)


As we as a team sit here, I can promise you one thing. We are hard at work behind the scenes. In my opinion, I have one of the best group of people I have ever had and they are continually working on your behalf.


And one last thing, we are here to talk to you if needed.

Who knows,  as my grandfather used to say , I may even begin by saying:

“I’m gonna tell you a story…….