The first quarter of 2020 will go down in history as among the more chaotic periods of investable market activity. Though markets may be recovering, they likely will remain volatile as new data clarify the macroeconomic effects of the coronavirus outbreak and the supply tensions/demand drop-off in energy markets. That likely means recession or worse for perhaps part of Q1, most or all of Q2 and potentially beyond. This latest episode of market tumult is another stark example of the market’s ability to amp anxiety, even as we can recognize the events of the first quarter as echoes of similarly turbulent periods in history. We otherwise will seek to remain focused on stabilizing investment paths that route to longer-term financial outcomes.