Ostrich Hunting Season Has Just Began
This report was originally written for clients on April 6, 2020, and after the overwhelmingly positive feedback we received we thought it might be nice to share it with our broader audience. We hope you enjoy it as much as they did!
Part 1 – Facing Reality
Before you dive into this Special Edition make sure you’ve got at least 20-30 minutes to read it without distractions because we’re going to cover a lot of important topics and you’ll need to pay close attention.
Over the last 30 days, we’ve been flooded with calls. These calls fall into two categories; clients for whom we manage their assets and prospective clients for whom we don’t yet manage their assets. Today’s Special Edition is written primarily for the prospective clients because you’re the ones in pain.
The calls from existing clients generally go like this, “This market is unbelievable I can’t believe you forecast this! I want you to know how thankful my family is that we listened to you. Had we stayed with XYZ Private Bank as many of our friends did we’d have already lost 30% of our wealth. Our next born child will be named after you.” Ok that last part about them naming their children after us is a bit of an exaggeration but in another 30 days as markets become even more unraveled it might not be.
The calls from the prospective clients are totally different and go like this, “I can’t sleep, my portfolio is bleeding! I don’t know what to do. My family is losing so much money. I don’t know who to listen to. Should I hold my positions? Should I sell? Everything you told me and have written about has been accurate. My private banker says I shouldn’t worry but it’s not his money on the line and I don’t have confidence that he’s anything more than a salesman at this point. What do I do? Please help me!!!”
The pain and fear in the voice of the prospects are palpable and certainly understandable. And prospects that’s why this Special Edition is written for you! We’re here to help. This is an intervention and if you’ve made it this far in reading then open up wide because here comes a spoonful of tough medicine.