Legacy Investing & Wealth Management Market Mondays – 3/16/20

Hello, hopefully you are all safe and staying healthy. My blog brought to you by Legacy Investing & Wealth Management gives you a quick and easy read focusing on stock market education, empowering the newer investor as well as giving you the most recent stock market analysis. For more information including past blogs please go to www.LegacyInvesting.net; look for the Market Mondays tab under “The Legacy” for all blogs.

Ok so by now you know we’re in a crisis and in unchartered territories. The amount of market panic we’re seeing now rivals and is possibly worse than the financial crisis of 2008. I’m not sure many people saw this coming but the Coronavirus along with other factors have so far shaved approximately 30% off the Dow, Nasdaq, and S&P 500. The 12-year bull market has ended and we are officially in a bear market. Fear has gripped the world and with most businesses closing and government mandated restrictions, this is wrecking havoc on world economies and stock markets.

So what does this all mean? With the abrupt economic shutdown we are likely looking at a mild recession at the minimum, and depending on how the next month plays out will determine the severity of the economic damage. There is a snowball effect this causes which ultimately will affect us all financially. Sure airline tickets are dirt cheap but that is not healthy for our economy. The travel industry, entertainment, retailers and small businesses in general are going to take the biggest hit and just about every sector of business will suffer. For the short term grocery stores, Amazon, and similar companies will do well. If we can see a leveling off and decline of new Coronavirus cases we could see a quick recovery as there would be pent-up demand for products and services (with an extremely low unemployment rate). For now this is different from the financial crisis as that was a period of sustained high unemployment accompanied with a lengthy recession.

I have been saying over the last year or so that we were in a late cycle bull market. Now that the stock market is considerably down, if you’re not investing already you may want to seriously think about opening a brokerage account and getting started. If you have a 401k or other type of retirement account you should definitely stay the course and continue buying and averaging in at lower prices.

Here is a look at the technicals of the stock market. The S&P 500 topped out in February at 3,393. It closed today at 2,386, most likely the fastest 30% fall ever. Today was also the largest point fall ever and the largest one-day percentage drop since the Black Monday crash of 1987. No one knows where this will stop but somewhere between an S&P 1,700 – 2,030 is not out of the question. I would prefer today to be the bottom so God we need you to step in and work this out, in Jesus name! Lol. At any rate this is presenting a huge opportunity for long-term investors so I hope this encourages someone like the financial crisis moved me some 12 years ago.

Please visit our website at www.LegacyInvesting.net and contact us today for a FREE consultation on becoming financially fit and learning how to make money investing in the financial markets. You can make money in ANY type of market (bull or bear). When we meet I’ll give you more information about our services and find out what your financial goals are. If I can help you, we can move forward; if not, no problem but I’m always just a phone call away from any questions or quick advice you want. Step out of your comfort level and take advantage of the market meltdown! Let’s connect and build generational wealth together.bear market

About legacyinvesting2015

Doug Hayes has always had a mindset of entrepreneurship and wealth building. He started his first business (a community newspaper called “Doug’s Monthly”) at 12 years old. Having always shown an interest with numbers and budgetary management, Doug pursued a Bachelor of Business Administration degree at Howard University, graduating in 1996. By the age of 23, he bought his first house and by 25 he was running his own successful limousine and sedan service in the Detroit, MI area. Doug invested in more real estate beginning in 2006, then in 2008 he saw many good companies substantially undervalued in the stock market because of the financial crisis. It was absolute panic so he took a chance on a few companies, knowing we would eventually come out of the recession and made a profit. He educated himself on investing in the stock market through continuous research and surrounding himself with other traders. He took control of his own 401K and established an IRA account by transferring old 401K’s into it. This gave him flexibility to use various strategies to yield better returns. Doug's own finances have seen highs and lows so he designed a budget system he calls The Roadmap to Financial Freedom. This system helped him to stay focused in paying down debt, saving money, and planning for an early retirement. Seeing an absence of financial literacy in our society coupled with his Christian roots, Doug developed a passion for helping others become successful in financial management. Through the experience he’s gained trading the stock market, he wants to help people develop a road map for building generational wealth. He says "many people have a misconception of the stock market because of their lack of knowledge, but it has proven to be the biggest wealth creator known to man." With Doug’s 20-plus years of experience in financial management, customer service and sales, he wants to educate and help you create a legacy that can be passed down for generations to come. Contact Legacy Investing & Wealth Management today for a free consultation.
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