It's all we've been hearing about for the past week so I thought now was the time to hear from the experts at PBS's WealthTrack. What is their take on how coronavirus is likely to impact the global economy and our individual portfolios? A summary is below. Use the link to view the full conversation on their web site. With all the bad news, at least we're finally having a nice weekend. Enjoy it while it lasts.
2-27-20 CORONAVIRUS & THE MARKETS - A message from Consuelo - February 27, 2020
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February 27, 2020
Dear WEALTHTRACK Subscriber,
Fears of a coronavirus induced hit to the global economy and corporate earnings drove stock markets into official correction territory today. It takes a 10% decline from the previous high to meet that definition and the Dow, S&P 500 and NASDAQ all exceeded that standard today after relentless selling this week.
For institutional investors, who are frequently judged on quarterly performance the safest course of action from a short-term performance standpoint is to sell first and ask questions later. Individuals are under no such pressure. As frequent WealthTrack guest and The Wall Street Journal’s “The Intelligent Investor” columnist Jason Zweig wrote this week, “The Pros Have to Sell Stocks Now. You Don’t.” The article gives very compelling reasons why.
How damaging will the coronavirus prove to be to business? In a WEALTHTRACK podcast, Nicholas Bohnsack, co-founder and partner of top rated macro research firm Strategas Research Partners assesses the evidence so far and why he and his team believe there are reasons for optimism longer term. It will be available on our website this weekend.
During this first week of spring fund raising season on public television WEALTHTRACK might be pre-empted in many stations over the weekend. As a result, we are revisiting a recent popular interview from Morningstar’s Christine Benz who is sharing her financial to-do list for 2020.
I am a procrastinator when it comes to finances. At the beginning of every new year or at tax time when I am under the IRS deadline gun, I vow this year is going to be different and I will finally get organized and make decisions over time instead of at the last minute.
Hope springs eternal. I decided I need help and why not share it with all of you. For the second year in a row we have invited one of our favorite guests who is very knowledgeable and organized to join us. She is Christine Benz, Morningstar’s personal finance guru. Her official title is Director of Personal Finance, a position she has held since 2008.
She writes daily personal finance columns for Morningstar, does interviews and podcasts and is the author of several books including 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances and the Morningstar Guide To Mutual Funds: 5-Star Strategies for Success. She has also been a WEALTHTRACK regular since the beginning.
We asked her to take us through her financial to-do list for 2020. Its detailed so get out your pens, papers or smart phones and prepare to take notes when you join us.
As always, if you miss the show on public television, you can watch it on our website. If you would prefer to take WEALTHTRACK with you on your commute or travels, you can find the WEALTHTRACK podcast on TuneIn, Stitcher and SoundCloud, as well as iTunes and Spotify.
Thank you for taking the time to be with us. Have a lovely weekend, and make the week ahead a profitable and a productive one!
Best regards,
Consuelo |
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