SIMC’s 2020 Reflections
The year 2020 will go down in the history books as a stand-out year, but probably not for the reasons one normally expects. Still, the pandemic and lock-down has been a once-in-a-lifetime experience. It has affected us in many ways, and I would like to take a moment and share my personal observations.
Humankind is amazing.
Our ability to pull together and deliver a vaccine in record speed was astonishing.
Big lesson: Never bet against human ingenuity. Our ability to solve problems is probably at its highest level ever….and it will only get better.
Humankind is not perfect.
During 2020 we were tested and some of our faults showed. We became divisive and attacked each other over trivial issues. This took our focus away from the truly big picture issues and probably cost lives unnecessarily.
Big lesson: Although amazing, humankind must always put forth effort to combat some of our imperfections. Good things do not happen on their own, it takes effort.
Selflessness is not dead.
The actions taken by frontline medical workers, essential industry workers, teachers, vaccine testers, and many others were simply heroic.
Big Lesson: You can count on your fellow humans to do the right thing most of the time.
Forecasting Markets is a waste of time.
More than ever, we live in a fast-paced, inter-connected and complex world. Humility requires that we accept that we do not have complete knowledge at all times. Who would have predicted positive returns 9 months after the start of a Global Pandemic?
Big Lesson: Enjoy the magical ride that our financial markets provide. Trying to “beat the market” is for masochists. Instead, be prepared for the over and under reactions our imperfect world serves up on a regular basis. We are still human after all.
We are Resilient.
2020 was a challenging year for all. Its effects were tougher on some segments of society than others. Almost all of us will make it through, and we should remember to be a little kinder to our neighbors and strangers. You never know just how tough it has been on others.
Big Lesson: I know it has been said before, but it is what I am thinking/feeling at the moment……enjoy the little things in life. A nice glass of wine, friendship, a good laugh – will all help make the last half of this journey a little more tolerable!
Best wishes to you and yours!! Please have a safe and happy Holiday.
This is being provided for informational purposes only and should not be construed as a recommendation to buy or sell any specific securities. The views expressed are those of Southern Investment Management Collective (SIMC) and do not necessarily reflect the views of Mutual Advisors, LLC or any of its affiliates. SIMC, nor any of its members, are tax accountants or legal attorneys, and do not provide tax or legal advice. For tax or legal advice, you should consult your tax or legal professional. Investment advisory services offered through Mutual Advisors, LLC DBA Southern Investment Management Collective, a SEC registered investment adviser.
About the Author: Kent Fisher, CFA, CFP®
Kent Fisher is a Chapel Hill, NC Fee-Only Comprehensive Wealth Manager at the Southern Investment Management Collective (SIMC). SIMC provides comprehensive financial planning, retirement planning and investment management services to help clients organize, grow and protect their assets. SIMC serves clients as a fiduciary, and tailors all solutions to each client's unique situation.