Well last week the market decline was caused by the coronavirus. Now this week the market decline is caused by the oil price war between the Middle East and Russia.
As always, we have a prudent process when developing your portfolios along with evidence-based design. Our goal is to remain disciplined to our long-term goal. No need to panic now.
Below is a sensible approach to dealing with the coronavirus by Dr. Vicki Rackner MD.
Fear about COVID 19 is spreading like wildfire. What risk does this new virus really pose to you and your family? Here are some thoughts from Vicki Rackner MD, FACS.
While we mourn the handful of US citizens who have died from COVID 19, please consider this: the CDC estimates that between October 1st, 2019 and February 29th, 2020, there have been between 20,000 and 52,000 deaths in the US from the flu. https://www.cdc.gov/flu/about/burden/preliminary-in-season-estimates.htm
The good news is that a simple program of awareness, prevention and common sense can decrease your risk of succumbing to a viral illness in the months to come.
- Wash your hands frequent—including before eating and after handling money
- Avoid touching your eyes, nose and mouth
- Avoid people who are coughing and sneezing
- Optimize the health of your immune system by getting a full night’s sleep, eating well and exercising regularly
- Cover your coughs and sneezes
- Stay home if you are sick
- Stay informed by visiting reliable sources of ongoing updates as we learn more about COVID 19.
Manage your stresses–including the stresses associated with market volatility. It’s natural to make impulsive, emotional choices when the stock market looks and feels like a scary roller coaster ride. Instead, give us a call. When it comes to investing, we believe, “First, do no harm.”
The coronavirus crisis as well as the oil price war will resolve themselves soon. So, remain disciplined and ignore the short-term volatility.