Chart of the Week – 4/9/2020

Dear Valued Customer,

Investment Management is as much an art as it is science. For anyone not in the financial industry, that may be a hard concept to grasp, considering all the numbers scrolling across CNBC or Bloomberg on a weekday. Yes, the foundation of the industry is heavily driven by data. But once you factor in the money aspect of investment management, that introduces the behavioral components of fear and greed. A John Maynard Keynes quote comes to mind: “The market can stay irrational longer than you can stay solvent.”¹ This suggests that data is indeed important in the long-term, but in the short-term, emotions can overtake the rational mind.