Welcome to PBHFA's April missive!
What incredibly strange days we are experiencing in and out of the financial markets.
The major U.S. stock market indexes have bounced hard off of last weeks lows but the rally has stalled with prices dropping from the near term highs. Is this nothing more than a dead cat bounce or signaling a climb out of the abyss?
Market bears point at the expected worse numbers in US economic history while the bulls focus on the trillions of stimulus cash about to flow into the marketplace.
While no one really knows what will happen, I am in the bullish camp. My bet is the stimulus will supercede the extreme negativity in the economic & corporate numbers by an order of magnitude. Time will tell!!
On the local front, Palm Beach has been locked down with store and restaurant closings across the board. Even our beloved beaches have been closed to help prevent the spread.
We have postponed all of our social events for an indeterminate amount of time. We plan on returning to our regular schedule of hosting incredible social and educational events as soon as it is prudent to do so. I know I can't wait to see everyone again and miss you all!!
The most difficult part of the crisis is the boredom arising from the "Shelter in Place" order. It's the first time in many of our lives that the ability to go shopping, participate in face to face business meetings, hang out with friends, and simply go out for a romantic evening with a significant other has been severly curtailed.
Of course, the internet and virtual connections has helped soothe the pain of the boredom, but they can't even approach what feels missing.
Using this time for self-growth, education, exercise, and getting closer to your family can be incredibly satisfying. Take advantage of this possible once in a lifetime chance, it may not happen again!
Let's make the best of these difficult times!
"The worse things get, the easier it is to turn them around."
David S. Goodboy