This January, we’ve experienced the coldest temperatures in quite some time – and the worst start to a year since 2009. While all the markets were down in January (the Dow was down 5.3% and the S&P was down 3.6%), we remain confident and are expecting this downturn to be short-lived. In addition, we’ve worked very hard to diversify and rebalance client portfolios over the last several months, which we do specifically to help clients weather these dips.
So what was happening in January that caused the markets to drop? Several things were happening that had investors on edge. Doubts about China’s economy were swirling, as their manufacturing activity decreased in January. The U.S. December jobs report, released in mid-January, showed job creation far below expectations. And finally, the appointment of a new Fed chairperson also weighed on the market, which as you know, dislikes the uncertainty that comes with changes like this.
Again, we feel these events will have a very short-lived impact on the markets. While the market is a bit down as I write, we look at it in perspective of the entire year and even longer term – and of course, in the context of your entire portfolio. All that to say, don’t panic! You will survive this bump in the road.
In other news, the Wamhoff team has added some great new members over the last month. Kyle Jones has joined Wamhoff as Financial Planner. Kyle has several years of experience in the financial services industry, and is very passionate about the financial planning process. We’ve also added Jaime Tullock to our team, who will serve as our Comptroller, overseeing budgets and providing financial reporting to Wamhoff leadership. Finally, Kara Dempsey has recently joined Wamhoff as Executive Assistant to Cherrie Boyer, helping Cherrie with scheduling appointments and preparing client paperwork and investment summaries. Each of these professionals have great qualifications and experience, and are exceptional people. I look forward to introducing them to you next time you’re in the office.
Finally, we have very exciting things happening for Just Because We Care. In January, Mandy Murphey from Fox 2 News, and her photographer Dave Sharp traveled to Honduras with us to do a series of stories about our mountain and the children there. These stories will air this Wednesday, February 5 during the 7AM, 5PM, 9PM and 10PM newscasts. Each story will be unique and tell of a different aspect of what we do there.
We also have our very first 5K / 10K and 1 mile fun run coming up on March 29th. Dubbed the Honduran Street Party Run, the race will begin and end at Streets of St. Charles and will feature great music, food, drinks and entertainment. Runners will get some fun swag, including a Honduran-Style cowboy hat, long-sleeved dry-tech shirts, and a commemorative medal. You don’t even have to be a great runner to participate! Walk it if you’d like – but certainly come out for the fun, or to see me run/walk my first ever 5K. I’m looking for supporters to sponsor my run, so call or email me for details. It will be an excellent time.
Stay healthy, wealthy and wise, and certainly, stay tuned.
Wamhoff Financial Planning & Accounting
PS – Watch for our new commercials with our new Wamhoff motto “We’ll Solve That!” to begin airing on Fox 2 in the near future!