• James J. Hargan

Covid 19 Update 5

Good news for a change. Markets up. Toronto up 11% yesterday. But the wild ride is not over. I am available for phone calls as needed. Please stay well and let me know if you need anything from me.

As of 745am we are looking at a positive open to the market. Asia was up. Most of Europe is currently ahead. Gold is giving back some of yesterday's gains. I have now experienced severe market events several times over my lifetime including 1987, 2002, 2008, lots of smaller ones in between and now this one. The trigger is always different but the fundamentals remain the same and we ALWAYS recover. Markets are driven by earnings. Earnings are driven by consumers. The consumer will come back in due time and life will return to normal sooner rather than later. We just need a little faith, trust, patience and less 'Breaking News'. See the attachment Cycle of Market Emotions. The US is about to pass a $2 trillion stimulus package, should be signed today. On another positive note China is getting back to normal business which is a sign that there is a light at the end of the tunnel (and it's not a train!). Hubei province where it all started has lifted restrictions on it's 60 million residents today. Had a conference call with CI Investments yesterday. Despite the turmoil they feel we will be out of this soon. Although not likely by Easter as per Mr Trump's comments. Mr. Trump's comments (as well as Andrew Cuomo, governor of New York) regarding the question is the economic cost too great an expense? This is challenging at best but from a pure financial perspective this may be the driving force to get us out of this quicker while still protecting those that are in need of it most. Not likely by Easter but also perhaps not as long as some are predicting. New York Times Opinion: Here’s how some economists assess the trade-off between economic well-being and health And I have no idea how this relates to anything but apparently Video Game sales have fallen for the seventh month in a row. I know my teens are doing their part to support this area but apparently not everyone else is. Perhaps the 3 week 'March break' that is upon us will help those numbers pickup. My 20 year old just spent $80 on a game. Bought online of course, didn't even have to get off the couch. And something that may be even more appropriate in these challenging and stressful times...Get out and walk more. Yes I've said this before. The insurance industry is all about stats when it comes to life insurance. Munich Re, A large international reinsurance company has indicated that 'steps taken per day' is a powerful predictor of mortality. Their analysis found that steps per day can actually segment a population into certain mortality risks even when accounting for age, smoking status and various health indicators. Karen Cutler, chief underwriter at Manulife says "Just get up and move...you get massive benefits by simply moving a little bit more." View in browser | nytimes.com

BREAKING NEWS President Trump said he wanted the U.S. opened up and “raring to go by Easter” on April 12, defying the warnings of most health experts.Tuesday, March 24, 2020 2:17 PM ESTHe expressed outrage about having to “close the country” to curb the spread of the coronavirus and indicated his guidelines on business shutdowns and social distancing would soon be lifted. “I gave it two weeks,” he said in a town hall hosted by Fox News, adding, “We can socially distance ourselves and go to work.”Read the latest And we are no where near this point...



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