Tuesday March 10/20 we spent the day at a Mackenzie Financial conference listening to twelve presentations. It was perfect timing. The day before, Monday March 9, the Dow fell 7.8%, 2013 points! Investors were spooked by Coronavirus and tumbling oil prices.
We went to the conference looking for answers: how serious is Coronavirus?, is the economy okay?, when will the stock market recover? Well…you know the answer. We once again realized that making predictions, especially short-term predictions, is not the business we’re in.
We’re in the business of helping our clients do sound investment planning and using their wealth to enjoy well-being, in a world of uncertainties and certainty’s, risks and opportunities.
It’s reassuring to know we have great partners at Mackenzie Financial helping us do our job. Please know we are here for you, and we are paying close attention, and we are absolutely serious about doing great work for you.
In a light-hearted conclusion to this memo, we can all take comfort in knowing that Jeff Bezos and Warren Buffett were both down $4.4 billion on March 9. Poor fellows.
This memo was prepared solely by Terry and Patty Rempel who are registered representatives of FundEX (a member of the Mutual Funds Dealers Association of Canada and the MFDA Investor Protection Corporation). The views and opinions, including any recommendations, expressed in this memo are those of Terry and Patty Rempel. Bluestone Financial is a personal trade name of Terry and Patty Rempel.
