I am past due to clear up some confusion and misinformation about our decision to participate in the Paycheck Protection Plan (PPP). This is simple and straightforward, unless you are committed to misunderstanding it.
Max Schatzow (Stark & Stark):
Investment advisors did not have a crystal ball when making the decision to apply for a PPP loan. Most businesses relied on their worst-case projections in determining whether to apply. If a business didn’t apply for the PPP without considering worst-case projections, or if its projections of the U.S. economy were rosy in late March, I would question their business and legal judgment.
31 families emailed us last week asking for information about how they could become clients of the firm. So I’ll be busy with that. Talk soon.