Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
None of us could have expected the unprecedented events of 2020, and today investors are navigating a new normal. To put the last 12 months in perspective:
• A once-in-a-century pandemic shut down half the economy virtually overnight.
• Unemployment spiked to 15 percent, also virtually overnight.
• We experienced the fastest bear market in history, dropping 20 percent in 16 days from late February to mid-March. We also had the fastest selloff.
• What followed was the deepest recession since World War II.
• Despite all of that, the S&P 500 index finished the year up 18 percent.
• Additionally, more than 10 million people filed for unemployment, but 2020 still had the highest increase in personal income in 20 years.
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