Hey, everybody!  Randy Miles here. Wow what difference 30 days can make. How about it?

Who would’ve ever thought a month ago we’d be having conversation that included the words COVID-19 or Coronavirus? Yet here we are. It’s been quite an experience for all of us.

And I do think that everyone of us are anxious right now we’re getting a little bit frustrated.  We’d like to get back to our normal routines and live life the way we’ve always lived here in the United States. Frankly, I gotta tell ya, I think the medical profession has it right. Given the magnitude of this virus and the complexity of the virus at this stage it makes sense to be socially distant, it makes sense not to congregate in large groups. We do need to work from home, if we can. Above all, we just need to be patient; patient with ourselves and patient with our government. Be patient with the medical profession so that we all can get back to living our lives in a normal everyday routine, which leads me into a brief discussion about the markets. As you might guess, I‘ve had quite a few discussion over the last several weeks with clients and non-clients, colleagues, talking about where do I see, or where do we see, the markets going? How much lower can it go? Has it already hit the bottom? Are we going to have a v-shaped recovery? Folks, let me tell you something, right now none of that matters. None of it. We are in an event-driven situation in the stock market. One that has not been witnessed ever. By that I mean we’ve never had the government essentially come in and shut down the economy.

There’s a lot of unknowns right now. There’s a lot of guesses, if you will, out there how far, or how deep, unemployment could go, or how good or how bad earnings are going to be in this sector or that sector. Right now there are more questions than there is answers. The best advice I can give anybody right now is to make sure you have plenty of dry powder because believe me, when this market finds it’s bottom and when we get this virus under control and we do begin to get back to our normal daily lives, the stock market, the U.S. stock market will do what it always has done. It will recover and it will recover in a hurry and it will recover stronger than it was before the event took it down. So listen, number one, be patient. Don’t be in any rush right now when it comes to making sure you get in at the absolute bottom. There’s no harm in making sure we have found some form of stability before we completely get back in. And number two, and probably more important than number one, just be patient, this too shall pass.

And I’ll close the way I’ve always closed in previous videos and in my LinkedIn monthly updates. Stay nimble, more so than ever now. Be tactical above all, and for sure know what you own. Until next time be safe.