We can admit it, can’t we? That feeling thankful in 2020 takes a little more effort than usual?
It’s been a tough year. So how is it that it could be moving so quickly when difficult times are supposed to drag? Yet the most unusual, confusing, complicated, and confounding year that is 2020 has somehow seemed to fly.
So what is there to be thankful for as we enter the Thanksgiving and Holiday Season of 2020?
We will each have our own unique answers to this question based on our personal situations, of course. But collectively as investors we have a few common things to appreciate. I’ll highlight just a few.
2020 has shined a particular spotlight on technology. The technological advancements of the past couple decades laid the foundation for the services, programs, and apps that have come to our rescue in all facets of life. It’s bleak to imagine our homes, our schools, our workplaces, and our social lives throughout this pandemic without the benefits of our modern technology.
We’ve also seen unprecedented coordinated efforts in the medical and scientific communities to combat COVID-19. On one hand it seems to have taken forever to start seeing signs of progress toward a vaccine. But the other hand resists our natural impatience and better understands the size and scope of this challenge and appreciates that we’ve come so far in record time.
It’s hard not be thankful for the diverse and resilient nature of the US economy. History has illustrated the power and innovation within the American economy time and again. Regardless of the catalyst of the challenge, America’s economy has recovered from setbacks. We are fortunate to have a diverse workforce that spans from high tech to manufacturing. From the fields of medicine to the fields of grain, our economy has many enduring faces.
We should also note how the recent election, while not entirely complete, looks to have repudiated extremism and favored centrists from both parties. This is something the markets have tended to like in the past and I think it is a unique and louder sigh of relief this time around.
2020 is the paradoxical year that saw the longest bull market in history end only to be immediately followed by the shortest bear market in history. It also saw the Federal Reserve and Treasury Department direct substantially more aid into the economy than it did during the Great Recession in just a fraction of the time. So while the financial markets acted unpredictably in many ways, they were yet again quite consistent in how they punished those who focused only on the short term and let their emotions override their disciplines.
Gratitude is a key ingredient to a fulfilling life. It gives us proper perspective. There’s no hiding the facts that our world is challenged and our country isn’t perfect. It can be easy to let these imperfections and shortfalls rob us of the full appreciation of all that is genuinely good. As we enter the Thanksgiving season, acknowledging the great things we actually do have creates our foundation for kindness, joy, and true abundance.
On that thought of joy and abundance, I have a very exciting announcement!
Our own Kristina Rodionova and her husband are expecting the birth of their son any day now. We couldn’t be any happier for them! This also means Kristina will be off on maternity leave throughout December and January. Her return to us is assured, but its exact time is unknown. Please join us in congratulating them on the addition to their family!
And on the topic of family, Shelby and I are looking forward to spending time with each of ours later in the year.
Specifically, we are planning to spend time away with our families the week between Christmas and New Year’s Day. We will be monitoring our phones and emails, but want to be fair in saying that week will be more focused on celebrating the Holidays than checking voicemails.
It is our goal to wrap up year-end business by Thursday, December 24th and return to work full time again on Monday, January 4th. In the interim, please don’t hesitate to call the office and/or email either of us if there is anything you might need to address prior to year-end. Also know that our back office staff will always be available for any immediate issues that might arise and they can be reached at 844-567-4544
- Given the strains and stresses of the year, “Thanksgiving 2020” seems highly oxymoronic at first. But there really is a solid list of things to be thankful for, and certainly not just as investors.
- Setting aside the oxymoron jokes about ‘jumbo shrimp’ and ‘original copies’, betting against the continuation of the budding recovery is a bit like betting against medicine, science, entrepreneurship, consumerism, and good old fashioned human ingenuity.
- Please join us in wishing Kristina well as she brings her son into the world and takes time away on her maternity leave.
- Know that we are extremely grateful for you – our clients, colleagues, and friends!
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