Dear Valued Clients and Friends,

“A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves.” - Lao Tzu, philosopher credited with founding Taoism in 6th century BC.

It is not an understatement to say that my life’s work and passion is helping people understand their financial values and goals and then co-create a process and plan to make those dreams reality. This has never been a linear process—there are gains and setbacks both personally and financially—that’s life. The Coronavirus scare we are currently experiencing is no doubt one of those setbacks.

In a hallway discussion this morning, Brian James, our Director of Investments, shared the following thoughts—they so perfectly reflect our Firm culture and the quote above, that we have reproduced them here:

I have no idea if this will help anyone, but these are the things that keep popping into my head. In my personal experience, the two worst periods of my career were:

  • September 11, 2001 for so many reasons
  • The Financial Crisis ’07-‘09

My worst personal decisions during those periods:

  • Losing perspective
  • Any and ALL of my equity (stock) sales
  • Hoarding cash
  • Thinking this time is different
  • Listening to self-proclaimed ‘experts’
  • Losing faith in humanity

What any of this means to me now:

  • This time is NOT different
  • Process and common sense are vital
  • Human beings are brilliant and resilient
  • This too shall pass
  • Every drop in the market means my future self will be that much better off financially if I stick with the process
  • I personally will not sell anything unless I NEED the cash to live (I am not selling any equity unless it is to re-position)

We are here to help. We will continue to communicate but please don’t hesitate for a minute to call us if you would like to discuss this or anything else.   

Sincerely,

Glenn Ullmann
President
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