Broker Check
April 2020 Client Letter

April 2020 Client Letter

April 03, 2020

It was the best of times; it was the worst of times.  The opening of Dicken’s classic “A Tale of Two Cities” has perfect relevance to the unknown world we are facing at this time.


I’ve also always believed and lived by the expression, “First Health, Then Wealth” by my favorite American philosopher and Author – Ralph Waldo Emerson.  He had a great sense of life’s priorities. Right now, our most valued and treasured asset is our health.


While we are all hearing about and observing the devastating effects of the Covid-19 virus, we are all experiencing a high degree of stress. But, when it comes to sound financial decision making, a mind under duress is prone to overreact and negatively impact our long-term goals.


While the First Quarter of 2020 was the worst in 12 years, it causes us to examine other crisis we have experienced as a country and the longer-term prospects of a recovery.   When we examine the range of crisis we have experienced as a country, there is one common denominator as a people and as investors – The Market historically has recovered  100% of the time. While this time feels different, we have often used the same expression in previous crisis.


As a country, we have taken extraordinary measures that we need to take to solve the Covid-19 virus as well as address the financial implications we will all realize when we open out statements as of March 31st, 2020.


My colleague at LPL, Ryan Deitrick, has provided some additional perspective and history in his attached letter.


As you adapt through this horrific and historic period with me, please know that I am here to answer your questions about the financial markets, and more importantly, how the decline has impacted your personal goals.


While the second portion of Ralph Waldo Emerson expression “Then Wealth” has been temporarily decimated, I truly hope that the first part “First Health” has remained in tact for you and your family.


Yours in health and wealth,


Tom Ammons