Market Update – March 13, 2020

In light of recent market conditions, we wanted to share some of our favorite insights from different experts in the finance industry.

The first insight we’d like to share comes from the CEO of American Funds Tim Armour.

With 30+ years in the industry, Tim has valuable insight on how current conditions have compared with crisis in the past:

“In the 37 years I have spent as a professional investor at Capital, I have experienced a number of unsettled markets, including the savings and loan crisis in the late 1980s, the tech and telecom bubble that ended in March 2000, and the Global Financial Crisis of 2008 and 2009. Each of these crises was very different, with very different underlying conditions. But in each case, the markets bounced back. I believe the markets, and great companies, will survive the current market decline and rebound.”

Tim also sheds a little light on the popular question, “Should I expect a full recovery?”

“At this point, I do not think it is realistic to expect a quick recovery. Circumstances may very well get worse before they get better. But I believe eventually markets will rebound. This too shall pass. When it does, long-term investors who can tune out the daily white noise — and red numbers flashing across their screens — and focus on the long term should ultimately be rewarded.”

Created 2020-03-13 18:28:49