I was in the Scottsdale, Arizona area for our annual trip to meet with clients not so long ago. Today, thinking back on that trip, what’s striking is how uneventful it was. February is a good time to visit Arizona, the clients were (and always seem to be) content. Their good cheer reflective of how well markets had performed in 2019. One client had the flu and asked that we reschedule. I didn’t see that as a problem. Libby was making a follow up trip in April and would want to meet the same people anyway. Libby’s trip, of course, never happened. 

It’s been a difficult time in all of our lives, and at times I have found it difficult to pry my eyes away from the news and what seems to be constant negativity. However, I think it’s important to share uplifting and positive stories during times of trouble, and I’ve been surprised to find that although there’s bad news at every turn, I’ve been able to find good news quite often in my everyday life. 

The Cybersecurity and Infrastructure Security Agency (CISA), U.S. Department of the Treasury, the Internal Revenue Service (IRS), and the United States Secret Service (USSS) urge all Americans to be on the lookout for criminal fraud related to these economic impact payments—particularly fraud using coronavirus lures to steal personal and financial information, as well as the economic impact payments themselves—and for adversaries seeking to disrupt payment efforts. 

Most of the time, financial markets find balance between fear and greed. Most quarters, while allowing for some winners and some losers, will have a slight overriding direction. This was not one of those quarters.