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We have spoken with many business owners throughout this pandemic. One thing is certain. Change is happening. Businesses are rolling up their sleeves and adjusting quickly to recent events. Unfortunately, there will be companies that do not survive or will be a relic of their previous self. Others will not only survive but will get stronger. The end result will be dependent partially on skill and partially on luck.

Falling markets and drastic headlines can tempt individuals to abandon their long-term investing plans. Their thinking might go something like, let’s wait until it’s over, hoping to catch the market at its lowest point before buying in. Or in rising markets, maybe they seek to sell most of their holdings near the peak. However, timing the market is essentially an impossible task as the chart on this page illustrates.

Every year in February, the public anxiously watches on Groundhog’s Day as Punxsutawney Phil (yes the groundhog) tries to find his shadow. If he sees it, then six more weeks of winter are ahead of us. If he can’t see his shadow, then early spring awaits. As you would expect, the groundhog’s record of predictability is poor at best. However, our feelings are nonetheless affected on the results. “Groundhog didn’t see his shadow. YES, early spring!”

On March 27th, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law in order to help deal with the pandemic. Given the short time from drafting to passage, there are still many details being ironed out regarding implementation.

Wisconsin Gov. Tony Evers has issued a stay-at-home order to Wisconsinites to fend off the coronavirus outbreak that is ravaging populations worldwide. The governor’s order will require nearly all workers in our state to work remotely and goes into effect on Wednesday March 25, 2020 at 8 AM and last 30 days.

“I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.” – Nelson Mandela

No one can predict the short-term future with much accuracy. The last few days are just another example. How quickly life can change for the whole world. To put this into context, during the last five trading days, we had the three worst and two best trading days we have seen in the last ten years.

The market trumoil continues as the country grapples with the COVID-19 outbreak and institutions take additional precautions and focus on business continuity plans.