Myers Capital Management

Refocusing Your Future

Refocusing Your Future

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Where We Are Now and Investment History

March 30, 2020 by Paul Myers, Myers Capital Management

As the markets gyrate in response to the likely upcoming recession caused by social distancing which is being used to fight the spread of the coronavirus, it is important to not get caught up in fear and to remember investment history.

JP Morgan, one of the Portfolio Strategists we utilize for client accounts, had some wise things to say about where we stand now in the investment markets in relationship to history. Today they wrote the following…

“Last week was another roller coaster ride as investors digested a number of developments around the monetary and fiscal policy response to the spread of COVID-19 and early signs of the turmoil it is likely to cause the U.S. economy. Notably, the Federal Reserve uncapped the amount of assets it could purchase, widened the scope of eligible securities and established other vehicles to ensure liquidity continues to flow through financial markets. Congress passed a $2.2 trillion fiscal package to help offset the financial toll on businesses and consumers. Elsewhere, data showed initial unemployment claims skyrocket to 3.3 million, breaking the previous record of 695K in 1982, and flash U.S., Japan and euro area PMIs for March are in deep contraction. While these ugly readings on the economy are likely to persist for some time, long-term investors should consider that since 1928, through 14 recessions and 21 bear markets, equity markets have never failed to regain a prior peak, and this time will be no different.

As shown in this week’s chart, regardless of time, gains achieved recovering from a bear market are substantial. Even if it took 5 years to get back to the new high achieved on Feb. 19, an investor would reap a 7.9% annual return from current levels. We are in unprecedented times, but markets will rebound, and the rebound will likely be significant.”

Filed Under: Myers Cap Post

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The Myers Cap Post

  • A Gaze Into The Future
  • Positive News On Company Profits
  • Market Overvalued, But Stocks Are A Leading Indicator
  • Markets Are High… Should I Invest?
  • Unemployment Lowers to 6.3%
  • US Economic Growth Continues in January Despite COVID Woes
  • Is It Time To Take More Risk?
  • Economy Continues to Grow In the 4th Quarter
  • Strange Recession and Recovery
  • Profits Improving But Likely Not Caught Up
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Myers Capital Management (“RIA Firm”) is a registered investment adviser located in Abington. Myers Capital Management may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements Myers Capital Management ’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Myers Capital Management ’s web site on the Internet should not be construed by any consumer and/or prospective client as Myers Capital Management ’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Myers Capital Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Myers Capital Management , please contact the state securities regulators for those states in which Myers Capital Management maintains a registration filing. A copy of Myers Capital Management ’s current written disclosure statement discussing Myers Capital Management’s business operations, services, and fees is available at the SEC’s investment adviser public information website – www.adviserinfo.sec.gov or from Myers Capital Management upon written request. Myers Capital Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Myers Capital Management’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.   This website and information are provided for guidance and information purposes only. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy. This website and information are not intended to provide investment, tax, or legal advice. Insurance products and services are offered and sold through Myers Capital Management and individually licensed and appointed insurance agents.   • Copyright Myers Capital Management
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