Dear Valued Client,
I have learned an important truth over these last couple of months. Most of us are at least intuitively aware of this truth but rarely is it so obvious as it has become with the development of the Coronavirus pandemic. Here it is: The media is not your friend.
There is an old saying in media: If it bleeds, it leads. The goal of the media is no longer to report the news with fairness, balance and integrity. The media preys on our fears and anxieties in order to grab and hold and our attention. This increases ratings and market share which leads to additional advertising revenue.
To be clear, the Coronavirus pandemic and the resulting economic fallout is a serious matter. It is a fear and anxiety inducing event that has impacted all of us in one way or another. We wouldn’t be human if we weren’t each feeling some measure of fear and anxiety. However, we can choose the degree to which we let these emotions affect us. The first thing we can (and should) do is limit our access to the catastrophist reporting of the 24/7 news cycle. Turn off the TV. Shut your laptop. Put down your phone. This is particularly critical if you are under lockdown or a stay-at-home order. Choose not to continue to take in bad news. Remember, the media is not your friend. Go for a walk; breathe some fresh air; take in the beauty of Spring. The second thing we can do is change our outlook. Optimism and positivity must be a conscious choice we make daily. It is empowering to choose positive thoughts over negative ones. As I have said before we cannot know when the virus will subside and the market will bottom nor when the economic stress will be resolved. We just know that they will. And for today that will have to be enough.
Please do not hesitate to email or call me with specific questions pertaining to your investment plan and long-term goals.
Stay safe and healthy.
Sincerely,