Founder's Corner

Founder's Corner: An Important Message from John P. Calamos, Sr.

24 March 2020

By: John P. Calamos Sr.

Founder, Chairman and Global Chief Investment Officer

In these difficult times, long-term perspective is your ally

We are truly in the midst of extraordinary times. I’ve been in the investment industry for 50 years, and before that I was proud to serve in the military as a combat pilot during the Vietnam War, but this is a new frontier. However, what I’ve learned from my experiences—as an investor, a businessman, and in the service of my country—is that with discipline, determination, and long-term perspective, we can navigate unprecedented challenges.

I know that many of you are tremendously worried about what is going on in the world and the markets. There is no quick fix for the challenges that we are facing. In addition to coronavirus, markets will also be grappling with rising election uncertainty, which may increase anxiety about the longer-term direction of fiscal policy.

But now more than ever, I encourage you to focus on the long term. There will be more bad days in the market from here, but this is not the time to panic and liquidate positions. It’s impossible to time the market, and at this point, investors are far too likely to get whipsawed—catching the downside and missing the upside. In the midst of the recent selloff, there have been up days, as well. 

Historically, markets have been forward-looking, anticipating and projecting ahead of actual turns. I believe that the markets may reach an inflection point well before the COVID outbreak is fully contained.

Volatility Creates Opportunity for Active, Risk-Managed Approaches

The Calamos Wealth Management approach focuses on comprehensive planning, portfolio risk management, as well as pursuing opportunity in a way that aligns with each client’s unique circumstances. We have always been dedicated to providing you with personalized attention—in all market environments. Our wealth advisors are available to address your questions about your wealth strategy and needs. Please do not hesitate to reach out to them.

In terms of the Calamos investment strategies, our portfolio management teams are working diligently. We are focused on preserving capital, while also positioning our portfolios to take advantage of the inflection point that we believe will come, even if we cannot predict exactly when it will occur. In many areas of the market, we are seeing compelling prospects emerge as prices decline beyond what we believe fundamentals warrant. 

What I've learned from my experiences is that with discipline, determination, and long-term persepctive, we can navigate unprecendented challenges.

In closing

I have always said there are opportunities in all markets, and that the flipside of volatility is opportunity. Even in this challenging period, I still believe this to be true. Since I founded the firm in the difficult financial markets of the 1970s, Calamos has been dedicated to providing risk-managed investment solutions. We believe our risk management DNA will give us a real advantage in navigating this environment.

On behalf of all of us at Calamos Wealth Management, thank you for your trust. May God bless you and your loved ones.

 

 

 

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Calamos Wealth Management LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.
Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Calamos Wealth Management LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/ her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Calamos Wealth Management LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. If you are a Calamos Wealth Management LLC client, please remember to contact Calamos Wealth Management LLC, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. A copy of the Calamos Wealth Management LLC’s current written disclosure statement discussing our advisory services and fees is available upon request.
Asset allocation and diversification do not guarantee a profit or protect against a loss.
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