We sat down with Questmont Strategic Wealth Advisor’s Vice President Nathan Imboden to reflect on 2020’s up’s and down’s & discuss some of the event’s that will bear heavily on the market in 2021.
Imboden had this to say, “2020 has certainly challenged us in many ways, especially as it relates to managing our investments/portfolios. When we go through periods like February/March 2020 and we experience equity prices drop over 30%, while going through two of the top five largest single day percentage drops in the history of the traded markets, nerves get tested. Fortunately, by following time-tested, long-term behavioral discipline, by not panicking and selling but staying the course, we’ve experienced an equities markets rebound to a level more than 10% higher than where they started the year. Easy? Not always. Rewarding? Yes! As for 2021, a lot is yet to be seen; additional COVID restrictions and shutdowns, a presidential transition, a Georgia Senate runoff, just to name a few. Fortunately, we have history on our side and know these “issues” are all temporary and all cyclical.”
We are all thankful to have made it through 2020 intact, but as we look to 2021 there is a more hopeful tone. As Nathan said earlier, patience and discipline play large parts in the success of your portfolio, especially when unforeseeable events such as COVID-19 come into play.
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This post was written by Elevate, Inc.