We sincerely hope you’re doing well and staying healthy during these volatile times. It’s been a busy several weeks for our team, not just holding a lot of hands but also making very strategic and tactical maneuvers to help our clients position well by both reducing their risk exposure and also taking advantage of good buying opportunities.
For example, we re-balanced our managed portfolios late in March, trimming off gold and treasuries (which are up over 20% during the last couple years as I write this), to buy back into stocks. Additionally, many of our clients have been sitting on cash these last couple of years largely due to the fact that stocks have been over-inflated since 2017. Some of them, with our guidance, have bought into stocks at very reduced prices. Meanwhile we directed other clients who are more financially vulnerable, to sell some of their stocks out of the market tin early March to make sure they have enough cash set aside to meet their needs in the case this downturn becomes a prolonged recession, which it could.
More recently we sold off most of our liquid real estate exposure three weeks ago and continue waiting to see how congress responds to the eviction and forbearance loophole created by the CARES Act.
Included in our client's quarterly one-page newsletter this month, are more details of the CARES Act and how we’ve been navigating our managed portfolios through this market, along with a brief snapshot of current market volatility for perspective.
This is a historical period in human history. We are especially honored to be of service as financial stewards to so many conscientious people during this time. Please let us know if you have any specific requests as we navigate this period or if you would like to schedule some time to talk.
Until then, please be well!
Your Team @ Impact Investors