It May be Different this Time
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
I am weary of this famous quote from Sir John Templeton: “The four most dangerous words in investing are, ‘This time it’s different.’”
It certainly feels different this time. Acknowledging that difference will enhance relationships with your clients.
Over one million Americans are filing for unemployment benefits every week. Over 28 million people claimed benefits from all programs for the week ending August 1, 2020.
Major cities are seeing a huge outflow of residents. Residential apartments are at all-time high vacancy rates. Almost 55% of businesses closed on Yelp have shut for good. The U.S. is bracing for an “avalanche” of evictions.
A key coronavirus model is predicting nearly 300,000 deaths in the U.S. from COVID-19 by early December 2020.