Commentary

Each week, Herb Morgan, EMA's Founder, Senior Managing Director and Chief Investment Officer, provides an Economic and Market Commentary that summarizes market activity, news and events from the previous week.

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Off Cycle Commentary 04-02-2020 – Herb Morgan

April 2, 2020 Commentary , Industry News

By Herb W. Morgan, III, Efficient Market Advisors

Dear Investors & Financial Advisors:

Over the last few weeks, as the coronavirus has entered our lexicon, I’ve spent more and longer time on phone calls than ever before. Balancing the need to be in the weeds of managing the money with the needs of meeting client expectations for communication and reassurance have made for long days. This is the period where I both earn my keep and potentially add value to client portfolios. In years like 2019 when markets went straight up without a hint of volatility, I was like the Maytag repairman. And, my ability to add value to a portfolio was limited.
Continue Reading Here

Economic & Market Commentary- 03-23-2020 Herb Morgan

March 23, 2020 Commentary , Industry News

By Herb W. Morgan, III, Efficient Market Advisors

Dear Investors & Financial Advisors:

At this point, the capital markets have moved beyond the potential impacts of the spread of the coronavirus and its ability to strain the capacity of the healthcare system. Many are actively questioning whether the intentional quasi shutdown of the US economy may do more harm than the coronavirus itself. Estimates vary widely about the impact to second quarter GDP but suffice it to say, the economy will contract at a double-digit rate. Even with all the recessions, wars, and natural disasters we’ve experienced there has yet to be a potential contraction this significant since the Great Depression. Continue Reading Here

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