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What is Going on with the Market Right Now?

Wondering what is going on with the market right now? Paul L. Moffat of Arista Wealth Management gives a market update.

Full Transcript: 

Hello welcome to Arista Advice. Hope you're well in light of the COVID-19 that we're all going through.

The question week is: Paul, can you give us a market update? I would love to give you a quick market update. The numbers are starting to come in, and let me share with you a graph going all the way back to 1929. You can see that we've been through eight bear markets. The features and the characteristics of all of those bear markets are historically the same. They're  fast. They're quick. They're deep, and they're painful. 

As you can see going back to our last bear market in 2008 and '09, the market was down 51%. Currently the market saw a 35% decline. It was the sharpest, the quickest, and the fastest decline we've ever seen in US history. 
Now, is it over? I don't know, and nobody knows, and anybody that thinks  they know hit delete. We don't know the depth and the duration of this bear market, but we know we're in one. What's the best thing to do? Think long-term. Focus on your goals. Find hobbies and skills to focus on if you have the spare time. We will get through this. The one trait that I've experienced, having been in this industry for many years, and of the four other bear markets and crises and declines that I've been through, we all survive them. 

May we think long-term in a short-term world, and please give us a call. If you have questions or concerns, we'd love to talk to you. 

And may I give a shameless plug to a close friend and client, judge Jacob Reynolds,  who's running to be a judge. Think of him when you go to the ballots in Clark County.