Brad McMillan, Commonwealth’s CIO, provides an update on the coronavirus, including the economic and market…
I had the opportunity to be at a conference earlier this month where the author of this article, Brad McMillan, was a keynote speaker. Through the years, I have come to respect Brad on his unbiased research on the economy and the market. Brad once asked if everyone was enjoying themselves at a conference he was speaking at, and an advisor shouted back, “Yes and please don’t ruin it” This is the type of honesty we might not want to hear, but know we need it to best help our clients.
There have been several emails and phone calls asking what this correction was all about, and more importantly what they should do now. Like Brad, I believe that reacting now is probably not the right answer based on the history of these types of corrections, but we need to keep an eye out for changes in the current status of the Coronavirus and how it is affecting the economy. Brad has provided a link to a John Hopkins University live update on the spread of the virus. I found it extremely informational on showing how the virus has spread and that statistically seems to be currently peaking.
I hope you enjoy the article and enjoy the nice weather!
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Edward Sokolowski, CLU®, CHFC®, AIF®PV Financial Group Managing Partner