March 24, 2020 - Your JFA Update From 6 Feet Away
- JFA continues to service clients uninterrupted
- Shocking drop in the market
- Make yourself part of the solution
As you know, in light of all the global precautions for the COVID-19 virus, Johanson Financial Advisors (JFA) is taking the required steps for its team members and clients to best avoid disruption from our day to day productivity.
All staff members are successfully working remotely. We continue to operate directly with you and without disruption. Communication via phones, fax, and email are all being answered promptly. Client transactions are continuing to operate seamlessly. Everything seems to be running smoothly, well, except maybe the psyche of investors…and the stock market.
Stocks dropped more than 20% in only 16 trading days, marking the fastest decline into bear market in history. The severe drop in stock prices has surprised us all, however, we do think the panic stage is in the rearview mirror. This sets the stage for a bottoming process that we expect will take some time. With the stock market down some 30%, and apt to slide a little more, it has already priced in a lot of bad news. Historically since World War II, the bear market declines have averaged around -37%.
Having worked as an Advisor through 3 previous recessions, 1990, 2000, and 2008, I have witnessed how the losses hurt. I also reflect on the rebounds which have always ensued and created wealth for our patient investors. I do not see any reason that this will not happen again.
Our goal at JFA is to be part of the solution in maintaining social distance. We strongly urge everyone do the same. We have the power to eradicate the spread of the virus. Please rest assured that we are still on top of everything for you. Your Life, Our Goal: Financial Freedom.
During this difficult time, we are reminded of the things that matter most in life: family, friends, and relationships. We appreciate you very much for your kindness and friendship during a difficult chapter in the economic cycle.
Lastly, I want to recognize, as a fellow human, these times are no fun, but we will make it through again. It really is darkest before the dawn. We will turn the corner. I am confident of that.