In late March, as the markets were careening downward in the fastest bear market anybody living has ever witnessed, I shared a video with you from Brian Wesbury of First Trust. He is one of Wall Street's most respected economists and market strategists, and he is somebody that I have followed closely for more than a dozen years.
I greatly respect his belief in free markets, entrepreneurialism, innovation, and capitalism. He is an optimist who often times has a contrarian view to the masses. His willingness to be the antidote to conventional wisdom takes both courage and conviction.
Now, as we move to re-open the economy, there is much speculation about how quickly we will recover from this self-imposed economic shut down. Certain industries, including retail, restaurants, hotels and airlines, have had substantial damage done to them. You may hear stories of quick and significant rebounds in real time data. However, you need to understand that these are being compared to extremely low levels, sometimes from a zero baseline. How should we view this data as it is reported and what impact will this have on the markets, our model portfolios, and the financial resources our clients worked so hard to accumulate during their lifetimes?
Please click on the link here
and take five minutes to watch Brian's vision of how this process will unfold and what to expect in the coming months. We had great feedback when we shared the last video from Brian almost two months ago. I trust you will find similar value from this brief investment of time. We hope you have a wonderful weekend as we all keep "Moving Life Forward" together.