All of you viewing this note have been on our minds here at WIT Capital Management. We first want to thank each one of you for your business, trust, and most of all friendship and wish you and your families the very best at such troubling times.
We have all witnessed an unbelievable move to the downside recently within the markets, followed by one of the sharpest and greatest point moves to the upside ever recorded. Over the last 5 years we have discussed the trading processes and algorithms that trade the markets at nauseum, but I am glad we have, as our market discussions are playing out in front of our very eyes.
In times like this we encourage clients to think about and have confidence in their financial structure and plan. I am sure all of you have heard us talk about the term “structure” during our recent discussions, but I wanted to mention it again because what we are going through now is the very reason we spend the time creating, modeling, and testing your financial structure, so that when something like COVID-19 comes out of left field and disrupts everything we know to be normal, that you can have confidence that your life savings has already been stress-tested and designed to withstand this very type of occurrence.
We have made deliberate efforts to talk to each of our clients individually over the past 45 days because this particular event, (COVID-19), affects everyone differently and mass communications just doesn’t cut it in our opinion. Each and every one of you have unique, specific, and custom circumstances and we didn’t feel that a blanket statement about the markets and how to think about this event made as much sense as it perhaps has in the past with other events like an election, Brexit, or Fed policy statements.
We have however continued to seek details and informational slides that we perceive as valuable and have communicated them through our website. The below link is a piece from Equitable that offers real insight to not only a market perspective as it relates to our current situation, but highlights some of the structural risks that will likely shape our investment advice as time moves ahead specifically relating to interest rates and the expectations we as financial professionals and you as investors should start to understand.
Please take a look and as always, feel free to give any of us a call with questions.
Thank you again for being a client of WIT Capital Management. The responsibility that you have entrusted to us will never be lost on our minds and we will be here with you until this issue, shall too pass.
Scott Sladovnik & WIT Capital Team