A Message from ATG Trust's Chief Investment Officer, Chris LaPorta
March 18, 2020
I have received fewer calls or emails than I have anticipated as the coronavirus situation continues to develop. Those I spoke with, we discussed their current strategy, the risk associated with their current portfolios, and why the prudent thing to do with their investments is "stay the course".
Today, I heard from a client I would never have expected to hear from, even in the worst of times. I understand this period of time is miserable. Investment strategy and understanding the markets are what I do for a living and I am even struggling with the current environment. The emotions of fear and uncertainty are very powerful. I honestly don't know what to make of this after the last few weeks and anyone that tells people otherwise isn't telling the truth.
Everyone that has money in the market is sick of hearing "stay the course". While that is still 100% accurate and no changes should be made short term, everyone deserves more than that.
Our clients are in portfolios that are appropriate for their risk profile, time horizon and goals. We do everything we can to make sure our clients understand the risk associated with their portfolio.
Are we considering making long term strategic portfolio changes to some portfolios? Possibly. We haven't had enough time to analyze the long term economic impact of this crisis. We will continue to monitor the situation and let you know if that changes.
In the meantime, take a look at the suggestions above this text entitled "Smart Things to Do in a Down Market." These actions are all very appropriate and true.
The best advice I can give anyone right now though is to delete all money apps, don't turn on news stations and distract yourselves doing things you enjoy.
We will all get through this and please remember ATG Trust will be here for you during the good times and the not so good times.
If there is anything you would like to discuss please do not hesitate to contact me.