Even if well telegraphed by regular news coverage, yesterday’s invasion of Ukraine by Russia has introduced new uncertainty into the market environment, causing some near-term turbulence. We thought it worth sending a quick note.
While it would be nice to avoid them altogether, first we’ll just offer the reminder that periods of market pain and turbulence are a very normal part of our long-run investment journey. Of course, that doesn’t make these times easy to endure as the ride can take a psychological and emotional toll while they’re happening.
Rest assured that though we may not have known the specific reason (today it’s the Russia/Ukraine situation) for market turbulence, we have been diligently working to position your portfolio to withstand difficult markets and deliver the growth and income needed to meet your long-term goals. In fact, “expect the unexpected” is one of our investment team mantras, as we highlighted in our recent market letter to kick off the year.
In our experience, market turbulence also often produces good opportunities for investment bargains and we’re always on the lookout. We have no doubt we’ll find some good bargains, as we have in the past.
As in past periods of temporary market difficulty, we’ll come through this together and we’re right here with you.
And as always, please don’t hesitate to reach out if we can answer any questions or provide additional comfort/perspective.