COVID-19 is likely to be disruptive for most Americans, trying for many, and devastating for some. But it will eventually be contained, based on all indications so far. Its duration is finite. Therefore, we should continue to be resilient and strive for optimism that we’ll collectively get through this together.
Gino Perrina, LNWM’s Chief Investment Officer, had a commentary this week in Seattle Business magazine, titled “Dear Seattle: The Financial Waters are Rough, but We’ll Get Back to Shore,” in which he conveys exactly this point.
Gino acknowledges the gravity of the situation COVID-19 presents, but goes on to offer some positive aspects:
“Unlike 2008, the industries hit hardest so far ― hospitality, travel, retail and entertainment ― have a strong capacity to bounce back quickly. Technology, which has helped keep markets strong in recent years, is likely to feel comparatively fewer operational impacts, and the tech-heavy NASDAQ has been performing better than the S&P since the downturn.”
He also has some advice for those worried about their retirement savings.
Read the full article: Dear Seattle: The Financial Waters are Rough, but We’ll Get Back to Shore.