March  2020 Newsletter
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Coronavirus & Market Update

March 9th - is the eleventh anniversary of the crescendo of global panic that marked the bottom of the bear market of 2007-09.
It is to me a thing of the most wonderful irony that the world has elected to celebrate this iconic anniversary with - you guessed it - another epic global panic attack.
At Monday (March 9th) morning's opening level of 2,764, the S&P 500 is down over 18% from its all-time high, recorded on February 19th. Declines of that magnitude are fairly common occurrences - indeed the average annual drawdown from a peak to a trough since 1980 is close to 14%.* But such a decline in barely a month is noteworthy, not for its depth, but for its suddenness.
As we all know by now, the precipitants of this decline have been (a) the outbreak of a new strain of virus, the extent of which can't be predicted, (b) the economic impact of that outbreak, which is equally unknown, and (c) most recently, the onset of a price war in oil. (That last one is surely a problem for everyone involved in the production of oil, but it's a boon to those of us who consume it.)
The common thread here is unknowability: we simply don't know where, when or how these phenomena will play out. And in my experience, the thing in this world that markets hate and fear the most is uncertainty. We have no control over the uncertainty; we can and should have perfect control over how we respond to it.
Or, ideally, how we don't respond. Because the last thing in the world that long-term, goal-focused investors like us do when the whole world is selling is - you guessed it again - sell. Indeed, I welcome your inquiries around the issue of putting cash to work along in here.
On March 3, the erudite billionaire investor Howard Marks wrote, "It would be a lot to accept that the US business world - and the cash flows it will produce in the future - are worth 13% less today than they were on February 19." How much more true this observation must be a week later, when they're down 18%.
We thank you for your trust as we navigate the current environment and welcome questions about your portfolio and your financial plans.
Be of good cheer. This too shall pass.
We would love to review with you this quarter.  Please reach out to Elizabeth or  Allie  to schedule time to get together.
Register for Our Retirement Empowerment Workshops:
Tuesday, April 21st   Lunch 11:30 AM or Dinner 6:00 PM
Tuesday, April 28th   Lunch 11:30 AM or Dinner 6:00 PM
We encourage you to bring friends and family who may benefit from our service.
Olson Associates 40th Anniversary Celebration

Looking back over the 40 years of this business, we remember the economic booms, the downturns, and all the other huge impacts to our investments. But what we value most is our client relationships that have grown as we partnered with each individual in achieving retirement and reaching his/her financial goals. 

Please join us to celebrate the 40th Anniversary of Olson Associates and their clients. 

Please call or visit our website to RSVP.

 Saturday, April 25, 2020 - 11:30 AM - 1:00 PM
 Brookfield Country Club
 100 Willow Run
 Roswell, GA 30075
Erick Olson , CFP® | Olson Associates | 770.740.8744 |

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