Broker Check

Update from Dan Kerrigan

April 15, 2020
Share |

Dear Friends,


The last four weeks have been a whirlwind and although we
haven't been able to attend a new release at the movie theater, we
have had a front row seat in 4D of the COVID 19 virus. Every
emotion has been experienced at one time or another by all of us.
Dubbed "The Great Lockdown" we still have much to learn as new
data pours in. First, I want to thank all of our tremendous clients.
We have had many heartfelt conversations about your families,
health, and finances, while you have shown great trust,
confidence, and concern for our team members. It has been
overwhelming and greatly appreciated by all us and our families.
Global output will shrink by 4.2% this year, the IMF predicts. In
plain English we will see the pain of the lockdown in Global
productivity reports for some time to come. What now? Much is
unprecedented, the outlook within the markets has certainly baked
in very bad performance numbers for Q2 and Q3. Response from
the US Government has been bold and robust. I confirmed today
stimulus checks are finally being received by those who qualified
based on income and household dependents. 80 million people
are expected to receive checks this week. Our firm took action on
March 23rd, rebalancing client accounts to take advantage of a
rebound. No one can say how long the significant pace in which
this rebound has happened and can be sustained. It has been
encouraging to see our team continue to evaluate the data week
to week and do our very best to shepherd you through this difficult
time.
Lastly, I want to thank all of our service men and women, not only
in our great military but those serving on the front lines in our
medical communities around the nation and the world. In addition,
the private sector within the US has really stepped up to deliver
much needed medical supplies. Regardless of your politics, and
Lord knows there are enough fingers pointed in all directions. I
ask that we all be diligent in supporting the many that have
sacrificed to help mankind live and thrive in past days and those
ahead of us. We are here every day to meet any need or
concerns you may have, thank you again for trusting our team
during this epic trial.