June 4th 2020
In 2010 Google CEO Eric Schmidt said that we are creating as much information online every 2 days as there was in human history up until 2003. Today, there are 300 billion emails being sent around the world every 24 hours with 2.9 billion e-mail users globally. Currently we have news 24 hours a day through the various outlets, and no apparent shortage of information with social media and added video.
“A wealth of information creates a poverty of attention” (Herbert Simon)
The speed, volume, content and importantly the source of information leaves us overwhelmed while trying to understand content and searching for clarity in a sea of volume quite possibly “creates a poverty of attention”. A current example, the shift of the initial protest intention in the USA diluted by sheer volume of riot news skewing the original intention. One’s viewpoint today is perhaps better served to be optimistically curious while seeking to understand the information beyond the headlines.
When viewing the matter in terms of one’s investments, checking the portfolio every day may cause anxiety, stress and sometimes fails to provide an accurate picture. Human nature and our fight or flight internal wiring often finds us feeling a need to act in terms of our investments, market downturns or bear markets. Acting on short-term viewpoints in isolation can be a recipe for further portfolio losses. Keeping a long-term view and following a plan helps bring clarity and goals into focus.
If you do not have a plan this might be the right time to start – and construct a formal financial roadmap or path to follow which includes all facets of your financial journey especially when changes in course or leaving “the path” is required. And the myth of planning is for old people and those retiring- is just a myth…planning is for everyone and unique to each individual and family. If you have not started, let us help to formalize your financial plan, set the bar- once constructed the plan will serve you and your family with a formal accounting, plus objectives, projections and tax efficiencies and strategies – it becomes a living breathing account which must be reviewed at least annually. We all know once it is written and formal, you cannot unsee it!
We invite you to take part in an exceptional complimentary session June 11th at 2pm; Why The World Will Never Be The Same Again & How CALU Members and Their Clients Can Pivot Amid The COVID-19 Crisis with innovation and disruption expert Jim Harris. Jim will share inspiring ideas to help you and business pivot to new approaches needed during this unprecedented time. We highly recommend this complimentary session as it is well informed, and Jim is an excellent speaker.
To register please click: https://us02web.zoom.us/webinar/register/WN_Xg4oFmNGQhCfkICN-II bTA
OUR TOP FIVE THOUGHTS OF THE WEEK:
- Pandemic Winners – technology, consumer staples, health, and anything that provides connectivity.
- Pandemic Losers – airlines, hotels, casinos, cruises, energy, non-internet retail.
- Fixed Income and the Bond Market – a favourable consideration
- Markets are recovering gradually-trending in certain areas
- How will we pay for the “financial vaccines” i.e. government program handouts?
Please contact us if you wish to discuss, we are always here to help.