Video Transcript:

Good afternoon everyone. Brent Chavez here. It is Friday afternoon. The sun is shining. So, there’s always tomorrow. And yesterday, it didn’t seem like there was a tomorrow.

We saw a week of unprecedented selling… crazy stuff. Charts that I’m looking at had never been seen in 100 years of the stock market. That’s how violent and how scared people were this week. But I want to be here to tell you all that it was way over done, it was fear driven, it was machine driven. The underlying economy is pretty much the strongest it’s been in a long time. There’s no doubt this virus is going to affect the economy, affect earnings moving forward. But at least it came at a time when our economy was very strong. Globally speaking, the global economy is looking to make a rebound. 

But more importantly, I just want to get on here to tell all of you who are my valued clients, my friends, that none of that really matters. What really matters is your health and your life. So I’m encouraging all of you to take the precautions necessary to stay healthy. Again, this is a virus, a flu. It’s not the “end of the world” type of bacteria – it’s not Ebola. But, it can be deadly to certain people that have issues – smokers, people who are obese are going to have some problems here. So we don’t want to take it lightly. I want all of you to be careful.

Please remember… I’m always here. I’m here to help you. I’m here if you need to get some groceries, if you need to get your medications or you cannot get out of your house… PLEASE call me. I will make sure that I find a way to get you what you need. You’re important to us on a personal level and we are concerned about all of you. So we’re asking please be careful. Please listen to what the CDC has to say about this and try to follow the protocol making sure that we’re keeping our distance from people, staying away from large crowds, washing our hands as much as we can. But we’re going to be fine. We’re going to get through this. There’s going to be the other side of this. And I think we’re going to be more than fine. 

I wish I had a crystal ball. I don’t. So we don’t know what could happen from here. But I’ve seen this before in different events in the markets. We can never ever ever bet against humanity – you can’t bet against the ingenuity, the will of the American businessman, American worker to figure out how to get through issues and problems. This issue has been way over magnified through the stock market. We had more vicious selling in this last week than we ever had during the ‘07, ‘08 time period where we had real problems in our economy. we had leveraged balance sheets galore. we had credit card debt galore in our country. We had paid too much for housing. We just had so many issues back then that we do not have now. Again, we’re going to be fine. And I just wanted to reach out to you to tell you to report to me if there’s anything I can do… I’m here.

Back to the investment side of it, we feel that we’re seeing some bottoming with the action today. We’ve had a really green day in the markets. To be honest with you, if we weren’t going into a weekend, I’d probably be looking to add positions down here… because I feel at this point, potentially, this is one of those huge buying opportunities that don’t come along that often. But we’ll see some data in the next day or two, plus what’s going to take place with the government and bailouts and allowing some things to take place that can benefit, whether it’s payroll tax lifting, restrictions on IRA and 401k contributions this year, we’ll see what comes of that.

But again, I think we’re going to be fine. All of us in the portfolios have a lot of cash, we have a lot of dry powder to get put to work to our benefit. At some point we’re going to use that to get back to making money and out of this fear mode.

If you have any questions, give me a call. Remember, the sun is shining. The sun is going to be shining tomorrow. We will get through this. But you take personal responsibility for your own self and your health – more important than anything. Take care and I will be talking with all of you soon. Bye bye.