To our friends:
We find ourselves in a new world. We are hunkering down in our homes, avoiding physical contact with others, and are concerned about our health and the well-being of our family and friends. For many of us, our offices and businesses are closed. Income has stopped due to the shut down, and our portfolios and net worth have dropped dramatically. Six weeks ago, we felt secure. We were washing our hands only a few times a day. Now we are living with uncertainty and insecurity. None of this is easy for any of us.
BUT all is not lost
. Compare today to an athlete who has torn the ligaments in his ankle. First he is on crutches, with no weight on the ankle, and he is in pain. But, after 6 weeks, the athlete can gingerly put weight on his foot. He begins to walk, limping for a while and with physical therapy begins to improve. In time the limp goes away, the athlete starts to run and normalcy returns.
It will be the same for all of us
. We will return to working, eating at restaurants, attending sporting events, and socializing with friends and family
. It will happen!!
The virus will run its course and we will learn how to treat it and vaccinate for it. The economy and the markets will improve, as they have in the past after severe shocks--like the dot com bubble, 9/11 and the banking crisis. This market correction will provide buying opportunities. As hard as it is to imagine, life
return to normal. We will re-balance our priorities and portfolios. We will return to life as we know it.
We just have to hang in there
We expect to receive something definitive from the government in the next few days, and we look forward to helping you receive the maximum incentives available for your situation.
Please call us if you have any questions. Stay safe and strong.
Your friends at Perlson LLP.