Strong in the Storm

We are in the midst of some unprecedented times! We just finished some of the strangest weeks the world has ever recorded. Events were canceled, large gatherings were discouraged, and then even prohibited. Businesses and schools have had to adjust swiftly. Teachers and kids are doing distance learning from home. Restaurants are offering curbside pickup and delivery only. Sadly, many businesses were not prepared for this kind of change or have not adapted quickly enough, and their businesses have closed.

As part of our regulatory compliance, HSC has worked on our business continuity plan over the last couple of years. We all have the capability of continuing our work from any location with internet service. We at HSC have been calling and video chatting with our clients as much and as often as possible over the last few weeks.

Current headlines are now mentioning the dreaded “Recession” word. But you don’t need to panic when you see the “R” word! Recessions are a normal part of the economic cycle.

It has never been a good idea to sell when everybody else is selling, just as it has never been a winning strategy to buy stocks when everybody else is wildly bullish. The best strategy has, in the past, been to ride out the downturn and experience the subsequent upturn—which may come tomorrow, next week, next month, next year, within 15 months, etc. Make no mistake: if you make unfortunate, spontaneous decisions based on fear, bear markets like the one we have entered pose a real danger to your future financial health. There is a real danger in selling at the bottom and then missing out on the recovery.

We trust you are sleeping well at night knowing we have prepared for the corrections, recessions, and bear markets that do inevitably occur. Down equity markets are built into the plans the same way gains and “bull” markets are. In other words, your portfolios are built on long-term variability of returns. As with every other historical event that has pushed the financial markets down, there is no reason to sell now. The only differences between our current situation and those prior are the unique circumstances and today’s headlines. News headlines these days are worded to shock and entice us by stirring up enough anxiety to compel us to continue reading the articles. We have control over our attitude and faith. We can find contentment by loving others and not living in fear. We encourage you to look around and meet the needs of someone around you. If you need help, please let others know. It is always helpful to take a step back from the news, and then go out and smell the flowers.

Everywhere, we see people stepping up with courage and responsibility, vowing to fight to the virus until it is exterminated, and we are determined not to surrender our lives or the lives of our loved ones. People are finding new ways to connect and support each other in adversity. Hopefully, we will come out of this with a new sense of community, all of us fellow survivors of the pandemic, and we may find new energy toward making our corner of the world more fun, interesting, and engaging.

Let us offer you our blessings and our hope—and most of all our support through this difficult time. Please do not hesitate to contact us if you have any questions, concerns, or needs during these days.