03/12/2020

COVID-19: Financial News for Your Organizations

From OSAE ERT Member Saling Simms Associates: March 12, 2020

I will make this e-mail notice short for those of you who just want the bottom line. For those who want our longer explanation, with or without charts and graphs, please contact our office for the full set of details. Plus, if you have questions about your accounts or holdings individually, or have not been in for a general review, please contact us to get one scheduled either in the office or on the web so that it may fit in your schedule and ours. As always, we stand ready and available to answer immediate questions anytime.  That being said;

Today, the World Health Organization (WHO) has declared the COVID-19 a pandemic. They also urged governments to step up their efforts to combat this pandemic. We urge all our clients to not get your info on the corona virus from social media sources as there is much misinformation in that environment. We would recommend www.CDC.gov for updated information as well as your state’s government health department. In Ohio, currently there are tjree confirmed cases and 15 cases under investigation while 14 cases have come back negative. Ohio’s website can be accessed here. Also please take all of the medically recommended precautions for you and your family.

Markets will be affected for an indeterminate time, within that time there will be losers… and winners.  There will also be entities that will be hit for a short term but not suffer in the long term. An appropriately allocated portfolio should not react identically to the market. As a matter of fact, our discretionary accounts are down fractionally compared to the market. Chris Davis of Davis Advisors once told us, “You make most of your money in down markets. It just doesn’t feel like it at the time.”

Additionally, know that we are studying the effect on the markets daily and monitoring conditions. For those of you who are in our discretionary portfolios, please understand we will make the tactical trades that we believe are necessary when we believe it is correct. For those of you in non-discretionary portfolios, we will be contacting you should we believe a trade is warranted. In the meantime, we do invite anyone who wishes to discuss in more detail to reach out, contact us. As always, anyone who has not been in for a review for a while, this media storm may be a blessing if it spurs you to come in for a review.

Bottom line: we are consistently looking at your portfolio strategies in line with your goals and risk profiles to take action or make recommendations. We have continuity measures in place for the firm should the situation worsen. We urge you and your family to take the appropriate measures to remain safe.

And don’t forget to wash your hands.   

Those with questions should direct them to Saling Simms Associates, 7965 N. High St., Columbus, OH 43235, telephone: (614) 841-1881.