In Perspectives

The market has had an interesting couple of days recently, to say the least. It reminds me of the song Spinning Wheel from Blood Sweat and Tears (you can find the song on YouTube for you younger readers), “What goes up must come down, spinnin’ wheel got to go ‘round”.

I was asked by Wood-TV8 on Monday night, after the Dow dropped 1,175 points, to provide some perspective on what it means. After all, a drop of that magnitude catches the attention of just about everyone.  Here are three things to keep in mind.

  1. Keep it in perspective – The point drop was the largest ever, that’s true. But in terms of percentage declines, it didn’t even make the top 20. At its worst on Monday afternoon, it amounted to a 10% correction. The Dow was still up nearly 5,000 points from a year ago.
  2. Not all declines are the same – This is important to remember. 10% declines happen almost every year. 2017 was the exception, not the rule. When the economy is strong, these pullbacks prove to be temporary, as fundamentals win out over valuation. During periods of economic weakness is the time to be more concerned. Today, the economy is in good shape.
  3. Know your risk tolerance – If the moves in the market the last few days are causing you concern, you may need to revisit your tolerance for risk. Market volatility is likely here to stay for a while. You’ll likely get the opportunity to recoup much of the losses of the past few days in the coming weeks and months. Make adjustments to your portfolio if necessary.

It’s natural to have questions about what all of this means and how it impacts you. It’s why we’re here.  Feel free to contact me at


Legacy Trust and Your Right to Financial Privacy

At Legacy Trust we have established policies and practices that respect the financial privacy of all individuals who use our trust company. We believe it is critical to comply with the laws and regulations designed to secure your financial privacy. Your relationship with us as our client is very important to us, and we want you to understand our policies and practices about handling your information.

This Policy applies to you – This Policy applies to our relationships with individual clients who inquire about or obtain products or services from us for personal, family and household purposes.

Strict security measures – We take the security of information very seriously. We have established security standards and procedures to prevent access to client information. We maintain physical, electronic and procedural safeguards to guard client information.

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Why we collect information – We collect information about you to:

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We collect information – We collect and maintain your personal information so that we can provide investment management and other services to you. The types and categories of information that we collect and maintain about you include:

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We have established procedures so that the financial information we collect is accurate, current and complete. We are committed to work with you to promptly correct any inaccurate information.

Our selective sharing of information – In order for us to provide investment management and other services to you, we do disclose your personal information in very limited instances, which include:

  • Disclosures to nonaffiliated companies as permitted by law, including those who help us service your account (such as providing account information to brokers and custodians).
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We do not share your information with third parties for marketing purposes. We do not sell your information.

Former clients – If you end your relationship with us, we will continue to adhere to the privacy policies and practices described in this notice.


Important Information About Procedures For Opening A New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

We apologize for any inconvenience this may cause; however, federal law prohibits us from waiving these requirements.

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