Earlier this week, we established a new position in Starbucks Corporation (SBUX) as we seek to take advantage of the market downturn, using the current environment to add high-quality companies to portfolios without compromising on price.
With stocks sharply selling-off over the last several weeks, we are looking for opportunities to add exposure to high-quality names at discounted prices. Consistent with this strategy, we have recently added Microsoft Corporation (MSFT) to portfolios.
The coronavirus, and the fear of its potential impact on the global economy, has roiled the financial markets. Domestic stock indices were down double digits last week, followed by a massive rebound yesterday.
Earlier this week, we made several transactions on behalf of our clients. While transactions varied by account, they consisted primarily of a portfolio rebalancing and replacing the Invesco S&P International Developed Low Volatility ETF (IDLV) with the Schwab International Equity ETF (SCHF).