I’m sure it was different from other years, but I hope you had a good Christmas and New Year – given the circumstances.
And for those who are still working, the holidays are all but forgotten now and it’s back to the reality of work.
There’s no doubt that 2020 will go into the history books and our kids will be doing case studies at school.
Here’s a snapshot of what took place:
- Twelve months ago, the stock markets hit all-time highs and economies were flying.
- Two months later, a formal state of emergency and official global pandemic were declared.
- In the following weeks, stock markets declined some 35%.
- We went into lockdown before Easter. In Melbourne, there were restrictions on leaving your home and a five kilometre travel radius. Borders were shut around the country and around the world.
- Toilet paper was the hottest commodity and canned beans had sold out in supermarkets as people prepared for the worst.
- Many people died and the unnecessary loss of life was tragic.
But we go into 2021 with a very different outlook:
- Stock markets around the world are almost back to pre-pandemic high levels. That’s unbelievable in such a short time. In fact, it’s the quickest recovery – ever.
- There is some real hope of an effective vaccine program. Ordinarily, this would take 10 years, but it shows what can be achieved if we work together and collaborate.
- Whilst there are still occasional outbreaks in Australia, we are the envy of the world. We made mistakes and could have done things better, but I’d rather be here than in the USA or Europe. Talk about the lucky country!
Here at First Financial
At First Financial, we have returned to the office in a limited capacity. We are continuing to use the efficiencies of Zoom and Teams but also face to face meetings for those who prefer coming into the city.
Whilst things are certainly looking up, we are not out of the woods just yet. No one knows what is going to happen next and people only make predictions because they are asked to. But we can have a ‘wish list’ and here is mine….
- Good health to all of our clients and their families and friends
- Stability to stock markets and economies, and
- Enjoy every opportunity we get to have a laugh and maybe a glass of red wine.
Wishing everyone a prosperous 2021 and beyond.
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