Amidst all the anxiety and scary headlines, we wanted to update you on our latest thoughts. A summary of what follows: What this means for client portfolios The perfect scenario (and hoping for – fingers crossed!) Italy - cautious optimism The USA - our forecasts We’re still worried – that’s our job Fielder’s team is on duty What This Means for Portfolios This chart says it all: Stocks have had their fastest drop in modern history – faster than the Great Depression or Financ

As the media coverage intensifies over coronavirus (CV), we are compelled to share some under-reported observations and some variant thoughts. We’ll cover:​ On the Bright Side What Actually Worries Us Lies, Damn Lies, and Multiplied Probabilities Packed Subways and Empty Classrooms OK, Now What? On the Bright Side There is little doubt that the headlines on CV will get much worse in the US. We are just now beginning to test people. The more tests we do, the more CV infectio