COVID-19 Update: Beaird Harris has shifted a significant number of our team members to work remotely.
We continue to serve and care for our clients, just as we always have, and are available by phone, video or email.

Beaird Harris will be closed on Friday, July 3rd in observance of the Independence Day holiday.

Market Update

March 18, 2020

We wanted to give you an update on the steps we are taking with respect to the management of your financial resources. As this is written, we have already rebalanced most accounts, buying equities at lower and lower prices. While we are in uncharted waters and have never dealt with anything quite like this, it’s important to know that we have been in uncharted waters before, both as a country and as a people. In every single case, the markets have moved on to all-time highs; we’re literally batting a thousand. In this particular case, there’s every reason to believe that we will in time find a vaccine, which means that this will be temporary.
Having said that, no one knows how long it will take or how damaging it will be in the interim. So with that, we’ve made a few changes in the way we’re managing portfolios and we wanted to share those changes with you. Wild swings in the market present a challenge to the rebalancing equation. Since all of our client portfolios have been rebalanced at least once, our Investment Committee made the unanimous decision to expand our tolerance bands for rebalancing. Without getting into the technical details, the impact of this is that we will require a significantly greater downturn in the market prior to additional rebalancing. We believe this will help account for the wild swings in volatility. 
During this time, many will panic out of equities. It’s important to know that for every seller of equities, there’s a buyer. You can’t have a seller without a buyer. It’s during times like these that equities are transferred from those who aren’t willing to take risk to those who are. History has always rewarded the risk-takers over the long-term and unmercifully punished those that panic. We are a voice of calm and reason in the midst of the storm and we will be with you every step of the way!
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