Third Quarter 2020 Commentary With everything we’ve endured so far this year, it’s safe to say 2020 has become a turning point in history. Even though the shock and awe will provide a rich and colorful past, many of us are eager to wrap up this year and make a toast to a fresh start. In the meantime, we actually have good news to report. (And bad news, too but we’ll start with the good.)The Good News:Financial markets have recovered from their March lows!Monetary policy and fiscal stimulus helped boost the economy in the 3rd quarter!States have contained the virus enough to continue re-opening the economy in certain areas!Companies are driven to make money, so they will adapt to new behaviors developed during the pandemic!Historically, financial markets are not driven by the results of a U.S. election in the long run!The Bad News:We are officially in a recession. The bold efforts that were made to save lives have left the economy in a medically induced coma.COVID-19 has found its way to the White House.Anxiety around the election has risen with the threat of disruption to mail-in ballots and delayed outcomes.Negotiations on the next stimulus package have stalled.Even as businesses are slowly reopening, we are far from “back to normal”.It’s unclear if the recovery will be strong and stable.Needless to say, uncertainty is plaguing the markets right now, but that is nothing new. Although this time it may feel different, volatility and uncertainty is always present in the markets for one reason or another. We have to remember we have no control over that or the pandemic, election, etc. In this situation, the best approach is to focus on factors that we can control. Ask yourself: what can I do to protect my financial house during these difficult times? The natural response is: sell out of the market and come back later once the smoke clears, but that’s not the answer. A better course of action would be to position yourself and your portfolio to weather the storm. It’s coming. Grab an umbrella.Our strategy involves looking past today’s volatility, dedicating exposure to pockets of the market we believe will outperform in the long run, and keeping positions that still serve a purpose in your portfolio. Remember when the market tanks, everything will get hurt. Sometimes the hardest thing to do is nothing at all. Most investors get rewarded for staying put and sticking with their long term strategy.If you want to re-evaluate your long term strategy, call us. We know today’s environment may present a variety of challenges to your financial needs, risk tolerance, and current asset allocations. It’s important for us to know if there have been any changes to your financial circumstances, goals, and/or objectives, so we can guide you accordingly. Thank you for your partnership, loyalty, and trust. Please know we are here to help. We will get through this together.