My right foot is feeling a lot better. Today I was able to see my physical therapist at 8 AM. The first time I met with him was last week and he was nice and gentle. Today he was not as gentle. As he bent my foot left, then right, I thought about how it feels to be invested in the stock market.
I am praying for everyone who is infected by the Coronavirus. I hope the spread of the virus ends soon. Please stay safe.
I am constantly called by clients asking “are we at the bottom?” In the last few days, I had several existing and new clients drop off checks to invest in this down market. I am trying to be a voice of reason in light of the constant 24-hour news cycle of fear. Attached are 2 articles written by Mike Sorrentino, that are more focused on facts and not fear.
I will be here and am reachable during these times. I don’t think this is the end of the economic world. I believe the markets have overreacted to the economic risk from the virus. I see the massive response by our Federal government and can see the markets rebound very quickly as more information about the spread of the virus.
Below is the body of an email that I just received to help small businesses here in Florida: “As a result of the current Coronavirus pandemic and because many small businesses are having/will have financial difficulty in these uncertain times, the State of Florida has created the Florida Small Business Emergency Bridge Loan Program. This program allows small businesses to apply for a short term loan in the amount of $50,000 with zero interest for one year. This is a short term loan that has to be paid back within the one year time period. It’s not meant to be long term. If you need a loan for a longer period of time, then you will have to apply for a loan with the SBA or a bank. I encourage all to apply for the loan even if you don’t need the money at this time as you don’t know what the future holds or if they will put a cap on the amount of money that is available. If your loan gets approved and you don’t need the money, just set it aside in a separate bank account and don’t touch the funds. That way, the funds are readily available for you to repay back the loan in one year. It doesn’t cost your business anything as it’s a zero interest loan. But at least you will have the funds already available in case of an emergency. Just be conscious that you will have to pay back the loan in one year so don’t use the funds unless absolutely necessary. Please note that one of the requirements is to have 2 or more employees, so some of you may not even qualify. Applying for a loan has to be your decision. I’m only supplying you with the information that the loan is available to apply in case you are interested and feel you will be responsible with the funds and will be able to pay back the loan in one year.” Below is a link to information about this loan. I encourage all my fellow business owners in Palm Beach Gardens to explore the opportunity to have a loan with zero interest for 12-months.
https://floridadisasterloan.org/
I am happy to speak to you regarding your investments and the stock market.
Plan Today. Protect Tomorrow.
Peter
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