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Mid-Quarter Newsletter – May 2020

The Birth of the Federal Reserve

Global central banks and their unconventional monetary policies have been in the limelight since the financial crisis in 2008. Given the unprecedented actions of the Federal Reserve (aka the Fed) recently, we wanted to give you a closer look into why the U.S. central bank was created and how its mandate came about.

Early attempts to establish a central government bank started as far back as the birth of our country in 1789, but none of those attempts made much headway. By 1860, the need for reliable central financing was clear, as there were nearly 8,000 state banks, each issuing their own paper notes. Thus, the National Banking Act was passed a few years later, which created a uniform national currency and only allowed nationally chartered banks to issue bank notes. The act didn’t, however, create a strong central banking structure. As the industrial economy expanded, the weaknesses of the nation’s decentralized banking system became more pronounced, leading to serious consequences. The 1907 Bankers’ Panic—a three-week financial panic that occurred during an economic recession, where liquidity dried up at local and state banks, causing many of those companies to go bankrupt—fueled a much-needed reform movement.

After six years of debate and negotiations, the Federal Reserve Act was signed into law on December 23, 1913, establishing the Federal Reserve System. Sixty years later, in the early 1970s, unemployment and inflation levels began to rise, reigniting fears of an economic recession. In 1977, Congress enacted the Federal Reserve Reform Act, which explicitly set price stability as a national policy goal for the first time. The very next year, Congress passed the Full Employment and Balanced Growth Act, which established the second policy goal as full employment. Today, price stability and full employment are referred to as the dual mandates of the Fed.

The Fed, along with other global central banks, has responded rapidly and forcefully to the current pandemic crisis. Central bankers clearly want to prevent the pause in economic activity from turning into a permanent solvency crisis and wave of defaults. Many will argue that the Fed’s response goes beyond its mandates—a stance that will be debated for many years to come.


How Business Owners Can Find Opportunities in Chaos
By: Wade Calvert, Wealth Advisor and Partner

While 2020 may seem like a difficult time to be a business owner, there are hidden opportunities to grow in the chaos, especially if you think of opportunity as the ability to make positive changes in your business regardless of what’s going on around you.

Click here to read the article below to learn about five things that every business owner should consider in this environment to capitalize on potential opportunities for growth.


Leadership in a New Workplace
By: Dan Charoenrath, Director of Private Investment Operations

As businesses prepare for a return to work in the coming months, one of the most important questions that every leader must be ready to address is: How do we operate differently to ensure that our people are still engaged and motivated? Beyond questions surrounding how to resume regular operations, we must first consider how we’ll successfully lead our teams through the drastic changes in their work environment. Every person in your organization has been profoundly impacted on an emotional, mental and financial level over the past few months—therefore, it’s unreasonable to expect that we can continue to communicate, direct and inspire them in the same way that we always have. Leading an individual through change can be challenging in and of itself because, by nature, change is uncomfortable for everyone.


Read the full article by clicking here!


New Partners

We are pleased to announce that Wealth Advisor Chris Galeski and Compliance Manager Menachem Striks have become partners at Morton Capital.

 

 

 

 

 

 


Follow Us On Social Media

This year we have focused on updating our social media pages to stay connected as well as provide you with timely tips, videos and advice to help you get the most life out of your wealth. Please click the social icons below to keep up with us on LinkedIn, Facebook, Instagram and Vimeo!

We welcome you to visit our new COVID-19 resources page on our website as well, where you can find trusted and helpful information related to financial planning and replay our entire Staying Connected During COVID-19 webinar series.


Welcome New Team Members: Amber and Benjamin

Amber McBride
Paraplanner

Amber graduated from California State University, Channel Islands, where she studied psychology. She always knew that wherever her career took her, she wanted to help people and solve problems. Before coming to Morton Capital and joining the Financial Planning Team as a paraplanner, Amber worked as a senior paralegal at a law firm specializing in estate planning, trust administration, and tax planning, where she gained nine years of experience. During her downtime, she enjoys traveling, hiking, live orchestral music, and spending time with her family.

Benjamin Markman
Private Investments Administrator

Benjamin Markman joined Morton Capital in July 2019. As a Private Investments Administrator, Benjamin plays a critical role in managing the coordination and administration of a variety of alternative investments. He graduated from the University of Oregon with a Bachelor of Science degree in business administration with a concentration in finance and a minor in economics. Benjamin holds a Series 65 license and is currently studying for the CFA® Level I exam. In his downtime, Benjamin enjoys exercise, playing piano, and chess. 


Oh Babies!

Our MC Family just grew by three! Wealth Advisor and Partner Chris Galeski and his wife, Briana, welcomed a baby girl, Aila Grace, on March 16. Client Service Administrator Carly Powell and her husband, Andrew, welcomed a baby boy, Anderson Eric, on March 27 and most recently, Private Investments Administrator Patrick Garcia and his wife, Pauline, welcomed a baby boy, Presley Grayson, on April 29. We congratulate all three couples on their growing family. Fun fact: this is the first child for each family.

Whitepaper – The New RIA Workplace

Our industry, our country, and the entire world was turned on its head in March as local and federal governments began to institute widespread stay-at-home orders. While some RIAs were caught flat-footed from a technology perspective, the RIA industry has been luckier than many brick-and-mortar establishments that needed to completely shut their doors during this unprecedented time. With most custodial systems, financial planning tools, CRMs, performance reporting technology, and data file servers now in the cloud, many RIAs did not miss a beat when employees fired up their internet-connected computers from home and logged into their typical applications.

Working from home has undoubtedly required our teams to work harder, but at a high level it has been fairly close to “business as usual.” Clients are still being serviced: accounts are still being opened, wires are still being sent, model portfolios are still being implemented and rebalanced. Even those RIA owners who have historically been the staunchest opponents of remote work have had to admit that this forced experiment has gone better than anyone could have imagined. And as the stay-at-home orders have continued from weeks to months, many are questioning if the traditional workday will ever look the same. Much has been written and discussed about the technology advancements not just in our industry but in society at large, but for the first time, we are now examining the physical space we work in and what the physical office of the future will look like.

Click here to reach the full article.

Authors:
Stacey McKinnon, Morton Capital, COO
Matt Sonnen, PFI Advisors, CEO

Featuring:
Michael Kossman, Aspiriant, COO
Brandon McKerney, Columbia Pacific Wealth Management, Director of Operations

 

MC Stories – A 22-Year Love Affair with Alternatives

I met Lon Morton, the eponymous founder of Morton Capital Management, in 1984 when our family business was looking for a pension administration company. My father and I then started investing with Morton Capital in 1987, just three weeks before something called Black Monday, when the markets dropped about 50%. I remember calling Lon and asking, “What do we do now?” He said, “We do nothing.  Unfortunately, these things can happen, no one is able to predict it, but we are going to stay the course as markets tend to work themselves out.” With hindsight being 20-20, it was good advice as the markets did work themselves out and we had solid returns for the next few years.

I sold my company in 1996 and left in 1998, telling Lon that I was intended to retire at the ripe old age of 40. He firmly told me that I was NOT going to retire and that I was going to work with him at Morton Capital. We had worked together investing for many years, and he wanted to tap my experience in managing a company. Little did I know how wonderful a relationship and lifetime adventure it would turn out to be.

As luck would have it, I started investing my final company sale payout in the second half of 1998 and was met by a significant downturn in stocks. Disappointed, I came home to my wife and said, “I will never let the stock market be the sole dictator of our financial future.”  Thus, my love affair with alternative investments began.

With some effort, we survived the three years of the Y2K market crash and lived through the great financial crisis of 2008. Now we are faced with probably the biggest health and financial crisis in our lifetime: pandemic. With most of the world shut down, it will take all our combined resolve to overcome and beat the virus and get back to our normal lives. Having lived through a number of these disruptions in the markets, I firmly believe that our resolve and perseverance on the health side, and our asset allocation decisions on the financial side, will win the day!

Much of this is made possible by the incredibly hard work and dedication of the entire Morton Capital team. Being the senior partner, it is gratifying to see all our younger teammates working so hard and sensing the responsibility of service to our clients and making sure that they are okay. I have been fortunate to work with many good teams in the past, but there is no doubt that the current team at Morton Capital is outstanding. It makes me proud to be part of that diligence and compassion. I am even prouder of Morton Capital’s recent Give Back initiative: a community outreach to offer free consultations, advice, and guidance to help our community in this time of need. If you know of a friend or loved one in need of some direction, please see our Facebook or LinkedIn page for more information or just click here: Community Give Back Video

Before 2020, and after 22 years at Morton Capital, I figured I had mostly seen it all in the financial markets.  Leave it to a pandemic to prove me wrong!  But, the one thing that remains constant for me is my love affair with alternative investments and how they help round out my investments and exposure to a world where there are never any guarantees what will be coming next.

MC Stories – The Value of Diversifying, as Learned on a Farm

You may have heard about diversifying later in life when you started to manage your investments. I learned the value of diversifying much earlier, on the farm.

I grew up on a family-run farm in Iowa where we worked hard and played hard, together as a team.

On the farm, I learned that there is a natural cycle to things, and you can’t fight Mother Nature. If it’s winter and there’s a snowstorm raging around outside — that is a very good time to stay sheltered inside where you can be snug and warm and maybe enjoy popcorn and games with the family. It’s a very bad time to try to plant crops or expect anything to grow. But during those stormy winter days when our crops could not produce, my family figured out another means to survive. We took care of our milk-producing livestock and our hens who laid eggs – both of which gave us a nice source of income through the winter months. Then, no matter how long and cold the winter might seem, and no matter how dead those barren trees looked outside we knew we would be provided for until the harvest came. And as long as those trees had good roots, there would be a new cycle of growth.

When you apply these lessons to investing, you realize that it’s important to have diversified assets with some investments providing steady income and others providing longer-term, larger growth. And, all assets have a natural cycle. So, like Mother Nature, you can’t fight the cycles but you can be grateful for the growth cycle and patient during the “winter” as you wait for that next cycle of renewal.

MC Stories – A New Way of Working

Many of us experienced feelings of uncertainty and excitement when the stay-at-home order was first announced. Uncertainty from not knowing how long it would last or if we would be able to work in the same way. Excitement for the conveniences of working from home. No commute, more time with family, and comfortable apparel have been a few silver linings in the midst of a pandemic. But as time passes, we are all starting to realize that our new normal may be vastly different than the life we knew a few months ago. While working remotely has its benefits, it can also be isolating, result in longer work hours, be less intellectually satisfying, cause mediocre collaboration, and result in fatigue that could hinder innovation. To combat these negatives, we must find a way to proactively discover what it means for us to thrive in this new normal. Below are a few tips I have learned along the way to help you re-energize your workday:

Pick a few locations

Remember those days at the office where you had meetings in conference rooms, sat at your desk, visited someone in the breakroom, or went out to lunch? Mobility is just as important at home. Pick at least three locations (ideally one can be outside) and rotate between them throughout the day. If you don’t have a mobile laptop, then answer emails on your phone for 30 minutes while you sit outside.

Get the right equipment

Remote work probably won’t ever go away – it may be wise to budget a laptop purchase in the near future, start planning for an at-home office or get yourself a laptop stand so that you are not bent over in an uncomfortable position all day. If your eyes hurt from too much zooming, invest in computer glasses to decrease fatigue and strain. Do what you need to do to set yourself up for success.

Overmanage your calendar

Don’t let email or your calendar control you – control it. Spend 15 minutes every morning reviewing your calendar for the next three days and plug-in time for emails (3x/day for 30 minutes…otherwise close outlook/turn email off), schedule projects (this includes emails that take longer than 5 minutes to respond to) and block creativity/innovation time. Re-evaluate every day whether the goals you set are achievable and if something needs to be rescheduled or delayed, just ask (in advance, not at the deadline).

Invest in yourself

We can’t give our best to others if we don’t give to ourselves. What makes you feel recovered – exercise? Netflix binge? cooking? chatting with your kids? Whatever your ‘thing’ is that makes you happy, do it daily. Just because you get the conveniences of working from home does not mean you should spend all of your time working. Plug time into your calendar to invest in yourself.

Find time to connect with others

The time will come when we will reenter the workplace, and as long as it is safe for you to do so, embrace the ability to be around people again. As humans, we energize one another through non-verbal communication, something that has been lacking over the past few months. Take advantage of any opportunity to connect with someone, even if you need to stay 6 feet apart. Laugh a little and prioritize conversations that are personal and authentic.

Remember that as humans, we are naturally inclined to be together. While technology has given us the benefit of digital communication, it is also important that we do not lose sight of the benefits of human connection.

MC Stories – What Brain Behavior Teaches us About Investing

What brain behavior teaches us about investing

In the early 2000s, I was walking into a Wells Fargo Bank on San Vicente in Brentwood, CA, when 2 young men briskly walked past us with heavy sweatshirts, dark sunglasses and hats on – it was the middle of summer. I immediately remember thinking that’s odd and got a sinking feeling in my stomach as I entered the branch. I didn’t see anyone until my eyes looked down at the floor and everyone was face down. The bank had just been robbed! I had missed it by only 30 seconds. Thoughts circled my mind and I began to wonder how each person reacted; did they panic? Or play it cool, assuming it would all be over in a matter of minutes? What would I have done in that situation?

I believe the biology of our brain can help explain how we react when we are shocked, worried, scared or panicking. Our brain has three separate parts: the Brain Stem, the Limbic Brain and the Neo-Cortex. The Brain Stem is largely responsible for automatic functions like body temperature, breathing, heartrate, etc. We will call this the lizard brain. The Limbic brain (animal brain) is the seat of our emotions and contains the Amygdala which is responsible for our Fight or Flight response. The Neo-cortex is our “logical” brain and allows us to solve complicated math problems, put a man on the moon and use language.

Over the course of thousands of years, our brain biology has not changed much. In times of heightened emotional angst (i.e. during the COVID-19 pandemic), it’s easy for our fight or flight survival mechanisms to kick in. Our brains are not able to distinguish between a perceived social threat and a physical threat. When the animal and lizard brain are activated, they literally hi-jack the logical brain (neo-cortex) of its ability to think by robbing or redirecting blood flow away from the neo-cortex so that the body can leverage its survival mechanisms.
This can also explain why some intelligent people make emotional mistakes with their money. Of course, no one does this intentionally. I would contend that they get robbed or hijacked. Not by a stranger but by their own brain. The idea of lack of resources (i.e. less money) strikes at the notion of survival on some primitive level and can easily trigger a strong emotional response – almost involuntarily. Would you trust your neighbor’s pet dog or lizard to make financial decisions for you? Probably not. But, invariably that is what we do when we making financial decisions in a heightened emotional state.

What is the prescription to avoid making this critical error:
1. Awareness – recognize your animal/retile brain has taken control (internal dialogue you are having is 1 clue).
2. Acceptance – its ok to feel strong emotions. Don’t try to control them immediately, just accept that you are irritated about the current set of circumstances.
3. Find a Release Valve for the emotion. Remember that Emotion is Energy in Motion. Don’t trap it. Release it by practicing deep breathing, exercise, or take a walk.
4. Talk about what you are feeling and see if you can put words to it – you are moving back into the higher brain by articulating what you feel by engaging the Neo-cortex. Talk to your spouse, friends or your Morton Capital Advisor.
5. Time – Give yourself the gift of time (a minimum of 24 hours or perhaps several days) before making a decision.

So, the next time your amygdala shows up to rob you, you’ll know just how to handle the situation.

Staying Connected During COVID-19 – Final Webinar

Our final COVID-19 webinar was moderated by our COO, Stacey McKinnon, who asked the following questions of Wealth Advisors Bruce Tyson and Jason Naiman related to the impact of government policy on investor portfolios: 

  • We have seen a massive amount of money printing over the last decade – how has that impacted stocks and bonds?
  • How might the pandemic impact the election?
  • How should business owners think differently coming out of the lockdown?

To register for access to these online events and/or submit any questions you would like our Wealth Advisors to answer for you please email us at questions@mortoncapital.com

https://vimeo.com/mortoncapital/stayingconnectedwebinar05052020

We look forward to you joining us on future webinars!

Quarterly Commentary – Q1 2020

“Weathering the Storm Together”

It is shocking how our lives have changed so dramatically in the span of a few weeks. While these are unprecedented and challenging times, we are grateful that everyone at Morton Capital and their families are safe and healthy. We hope that you and your families are as well. Beyond our company, we are heartened to see the strong spirit of cooperation on display every day in our larger community: hospital personnel and medical professionals exhibiting courage and dedication; pharmaceutical firms rushing to develop a vaccine; industrial companies shifting their businesses to manufacture ventilators; and even a beer brewery helping to produce hand sanitizer and giving it away for free to first responders. We may be isolated in our homes, but we are all truly in this together. We feel confident that we will emerge from this pandemic a stronger firm and community.

 

“The Bull Market Hits the Illiquidity Wall”

In a 180-degree reversal from 2019, volatility spiked and risk assets fell sharply during the first quarter of 2020. The U.S. equity market drop of over 30% from its February peak was the fastest such decline on record. The S&P 500 Index either rose or fell at least 4% in eight consecutive trading sessions, the longest streak in history. Given the sharp stock rally in the last week of the quarter, the S&P 500’s 19.6% loss appeared somewhat tame, especially as compared to broader markets: U.S. smaller company and value stocks and developed and emerging international stocks all experienced meaningfully higher losses. While the negative demand shock affected most commodities, oil was especially hard hit as it collapsed over 65% to the low $20s per barrel. Gold was one bright spot, up close to 4.0% during the quarter after a strong year in 2019. The table below summarizes the first-quarter performance for selected indices versus 2019.

While stock markets and commodities experienced significant volatility, the more unexpected story was the corresponding carnage in bond markets. While U.S. government bonds were up modestly, other major categories of bonds experienced significant losses. The below chart looks at the decline in various bond categories in 2020 as compared to their maximum drawdown during the 2008 crisis as well as their recovery when the markets rebounded in 2009:

Certain types of bonds will undoubtedly face challenges if the current economic climate worsens. However, the sharp selloff in bonds was not only driven by concerns for the future, but also by a wave of forced selling that sucked up all the liquidity in the bond markets. Counterintuitively, higher-quality bonds actually took some of the largest hits since that is where desperate sellers rushed believing that they would have the most liquidity. At this stage, certain bond securities seem to be oversold, as they also were back in 2008. The above chart demonstrates that opportunistic and patient investors who saw this as an opportunity back then were ultimately rewarded with equity-like upside when conditions in bond markets stabilized in 2009. We believe that we are with the right managers to capitalize on these types of moves. We currently have meaningful allocations to bond funds that we categorize as “tactical fixed income,” meaning that the managers have broad mandates to move in and out of various bond market segments depending upon where they see opportunities. These managers are now in a position to take advantage of the current market disruption if they believe it presents an opportunity for the longer term.

 

“Redefining Money at Ludicrous Speed”

In the classic Star Wars spoof, Spaceballs, light speed is not fast enough for Rick Moranis’s evil Dark Helmet. He insists that his spaceship jump to ludicrous speed, causing them to overshoot and lose their quarry. Similarly, recent events feel like they have been played out at ludicrous speed, starting with the fastest 30% decline on record for stock markets, followed up with a comparably fast and drastic monetary and fiscal policy response.

Back in the 2008 financial crisis, various government programs were rolled out by the Federal Reserve (“Fed”) and federal government over many months. In the current environment, government programs to shore up the economy and markets have been launched at a rapid-fire pace. The Fed has announced what equates to unlimited quantitative easing (or “QE”), which is a program where it essentially prints money to provide liquidity to the system. It accomplishes this by buying various securities, ranging from treasuries to corporate bonds, which aims to keep interest rates low and stimulate economic activity. QE was a favorite tool of the Fed’s back in 2008 after it lowered interest rates to zero and ran out of traditional stimulus methods. The scope of this current QE, though, makes the QE from 2008 look like child’s play. The Fed’s balance sheet has already increased to over $5 trillion and is projected to double to over $10 trillion by the end of 2020. These types of numbers are inconceivable in their size. Back in March of 2009, the entire global stock market was valued at around $27 trillion total. Today, we are talking about the Fed, just one of many central banks globally, owning assets of over $10 trillion. These types of policy moves are doing more than just stimulating economies and markets; they are redefining money. Money has historically been thought of as a store of value, but that definition is totally incongruous with the way it is being used today as trillions of dollars (and other currencies around the globe) are created out of thin air to stem the current crisis. The point is not that stimulus is not necessary given the extremity of the current crisis, but rather that there will ultimately be a cost.

 

“Focus On What We Can Control”

While there are many things outside our control in the current environment, there is also much that we can control about our own situations and how we respond to upcoming events. The recent stock and bond market volatility created an excellent opportunity for investors to reexamine and reaffirm their risk profiles. It is natural for investors to think they can handle more risk when markets are going up with very little interruption, as they had for the past decade. But recent events are a better measure of how much volatility investors can handle. Did this latest turbulence keep you up at night or were you confident in your long-term plan? Did you have the urge to get out of risky asset classes or were you comfortable with how your portfolio was positioned? When it comes to risk tolerance, there are two essential components: how much risk you should take to meet your goals and how much risk you are willing to take. The first component is a function of more objective criteria like your time horizon, spending needs and other data that can be input into your financial plan. The second component is all about emotions, but in spite of that it is an equally important part of the equation. Even if your financial plan dictates that you can have a more aggressive portfolio, if emotionally you cannot handle big swings, then that positioning may not be appropriate for you. After all, the best portfolio for you is one you can stick with, in good times and in bad.

Another important situation within our control is whether we have sufficient liquidity or emergency funds to meet our short-term cash needs. Certain asset classes like stocks, or even riskier bonds, are technically liquid on a daily basis. But just because you can sell daily does not mean that it is a good idea. On a short-to intermediate-term basis, stocks in particular should not be thought of as a source of liquidity. Instead, investors should have sufficient liquidity outside of their portfolios to meet their needs and handle any smaller emergencies that may arise. This prevents forced selling at the wrong time.

Finally, we can control how we allocate our portfolios and whether we are positioned aggressively or defensively in any given environment. When risks are heightened, as at present, we believe it is time to be defensive. Rather than avoiding risk (e.g., going to cash), this means favoring asset classes that we feel have more attractive risk/return characteristics than those of traditional stocks and bonds. While alternative assets are not immune to current events, they are typically much less sensitive than those traditional assets. We are in touch with all of our various managers and are monitoring the impact of current events on their portfolios closely. We believe that we are with the right managers that have the right mindset to face these types of challenges. The first order of business is protecting what we have, but if things deteriorate further, there will undoubtedly be opportunities for the longterm as well. We will continue to look beyond short-term noise towards how we can best protect and grow our clients’ assets for the longterm.

Please do not hesitate to contact your Morton Capital wealth advisory team if you have any questions or would like to review your portfolio or financial plan in more detail. As always, we appreciate your continued confidence and trust.

Morton Capital Investment Team

 

 

Disclosures

This commentary is mailed quarterly to our clients and friends and is for information purposes only.  This document should not be taken as a recommendation, offer or solicitation to buy or sell any individual security or asset class, and should not be considered investment advice. This memorandum expresses the views of the author and are subject to change without notice. All information contained herein is current only as of the earlier of the date hereof and the date on which it is delivered by Morton Capital (MC) to the intended recipient, or such other date indicated with respect to specific information. Certain information contained herein is based on or derived from information provided by independent third-party sources. The author believes that the sources from which such information has been obtained are reliable; however, it cannot guarantee the accuracy of such information. Any performance information contained herein is for illustrative purposes only.

Certain private investment opportunities discussed herein may only be available to eligible clients and can only be made after careful review and completion of applicable offering documents. Private investments are speculative and involve a high degree of risk.

The indices referenced in this document are provided to allow for comparison to well-known and widely recognized asset classes and asset class categories. Q3 returns shown are from 06-28-2019 through 09-30-2019 and the year-to-date returns are from 12-31-2018 through 09-30-2019.  Index returns shown do not reflect the deduction of any fees or expenses. The volatility of the benchmarks may be materially different from the performance of MC.  In addition, MC’s recommendations may differ significantly from the securities that comprise the benchmarks.  Indices are unmanaged, and an investment cannot be made directly in an index.

Past performance is not indicative of future results.  All investments involve risk including the loss of principal. Details on MC’s advisory services, fees and investment strategies, including a summary of risks surrounding the strategies, can be found in our Form ADV Part 2A. A copy may be obtained at www.adviserinfo.sec.gov.

Staying Connected During COVID-19 – Webinar #5

Led by our Wealth Advisors Alan Kane and Chelsea Watson, this webinar addressed client questions surrounding the latest developments of COVID-19 and its impact on the market. Alan Kane has more than 39 years of experience in financial services. He shared his views on the past major cycles and what we can learn from history in the current environment. Chelsea Watson has been with Morton Capital for over 10 years. She shared her perspective on how we may need to change plans and adapt to life after the pandemic.

To register for access to these online events and/or submit any questions you would like our Wealth Advisors to answer for you please email us at questions@mortoncapital.com

https://vimeo.com/mortoncapital/stayingconnectedwebinar04282020

We look forward to you joining us on future webinars!

Staying Connected During COVID-19 – Webinar #4

Senior Vice President and Wealth Advisor, Joe Seetoo, and Wealth Advisor, Priscilla Brehm, this webinar addressed the following client questions surrounding the latest developments of COVID-19 and its impact on the market:

  • Why is the Federal Reserve buying bonds as part of the newest stimulus package? Emotions often drive decision-making.
  • What behavioral biases should I look out for when making financial decisions?
  • I’ve been told to invest for the long term. What does that mean?
  • What does that mean? How should I invest differently for the short term vs. the long term?

To register for access to these online events and/or submit any questions you would like our Wealth Advisors to answer for you please email us at questions@mortoncapital.com

https://vimeo.com/mortoncapital/stayingconnectedwebinar04142020

We look forward to you joining us on future webinars!