Current Market Cautions

Steve Wang: That's right.
Marc Scudillo:And the impact that it happens to the market. So tell us a little bit about what happened yesterday.
Steve Wang:What happened yesterday was Coronavirus that has been a spreading around the globe, which is what we consider as a Black Swan type of event. And that is an event which no one can predict in advance. That's why when this kind of event hits the market, it caused some nervous reactions around the globe. The Coronavirus is starting to spread not only in China but also in some Asian countries and in Europe.

So, within the U.S. we want to be very careful in terms of how we react to this type of event when we manage the client's portfolio.
Marc Scudillo: Right. And we had discussed that the impact can be a longer term, some of the supply chain issues that could creep into the market over the next months, year.
Steve Wang: Correct.
Marc Scudillo:But we also had discussed that there's opportunity for other countries, other manufacturing facilities that are outside of China that might be able to come up and pick up some of the slack. So the cost benefit analysis is still yet to be fully understood or known what the impact is on the market.
Steve Wang: That's right.
Marc Scudillo:So we'll discuss what does that mean as we conclude here and what our conversations were from our investment committee of what we can do and what's been done to help our clients and these types of situations. Of course if it's not the Coronavirus it could be something else that could come in and impact the market along the way.