February 24, 2020 is when COVID19 became real for most Americans.
Good Day! We trust that you are safe and well.
For our clients who are also members of USAA:
“USAA Exits Investment Business and Moves ALL Accounts to Charles Schwab”
When will our economy fully re-open?
As the COVID19 pandemic began, the general thought was that we would experience the outbreak and then we would finish with the outbreak. This would lead to the economy re-opening in a more expedited manner.
We hope you are doing well and staying safe.
First, a quick observation of today’s decline of 622 points or (2.55%) on the Dow Jones Industrial Average. While certainly a worrisome day, the Dow was essentially flat for the week – down 51 points or (0.22%). It often helps to take a step back for another viewpoint.
The Coronavirus Aid, Relief, and Economic Security Act, or ‘CARES’ allows retirement account owners to take withdrawals for emergency costs related to the coronavirus pandemic and partially delays the tax consequences. Workers will also be able to initiate bigger 401(k) loans and get a slightly longer repayment period for existing loans.
Simply put, we have more oil than places to put it. Supply and Demand.
We trust that you and your families are coping well during this period of stay at home orders. For Richard’s family, Heather and all five boys are home and we are enjoying game nights including Dominoes, Uno, Skip-Bo, Scategories, Left-Right-Middle, Ping-Pong and Beer-Pong (minus the beer but a beer, wine or whiskey on the side is within the rules). All the boys are taki
The end of one quarter and beginning of another is a good guidepost to offer some initial perspective on the COVID-19 pandemic and its effect on the economy and our portfolios.
On behalf of Affinity Capital, thank you for the opportunity to serve you during these most difficult times. While portfolios across the world have seen difficult times, we are generally pleased in our management thus far and believe we are well-positioned for a recovery.
Affinity Capital: 10 Questions: