Manage Money in a Crisis

How to Be on TV Shows:

Think about relevance and what people want to hear. Look at the current events going on in the country and in the world and pitch your stories around those! During something like a pandemic that is new and there is so much unknown, people have a lot of questions that they are looking for answers for. Specifically, people were worried about their money and the stock market during this time. Watch the video below and read the post to learn about how JP Maroney used the media to share his expertise and knowledge about finances and investing during the pandemic.

PR Client:

JP Maroney, Founder and CEO of Harbor City Capital

Successful PR Topic:

Discusses how to handle investing money during the pandemic.

Why is this PR story relevant:

JP used “newsjacking” to create a newsworthy story idea. He used current events and the pandemic to create a story that is valuable to an audience. Having something to contribute to current events makes reporters more likely to want to have you on their show or use you as a source because it’s what people are talking about NOW. JP provided value to their audience and helped answer questions related to investing and finances during this worldwide crisis.

Why this pitch appealed to the media:

Having someone on who is giving advice on how to handle people’s money during the pandemic was appealing. The relevance of the story during times like these was a huge factor in his success. Pitching stories that are relevant to the time period or the channel that you are pitching to will help you succeed in getting a “yes” from the media. Stay on point and on topic and you will become a success just like JP.

Media outlet that was pitched:

Wake up With Cheddar, Cheddar.com

Free PR Interview Transcript

All right it is the last day of the first quarter which barring some incredible runs today will likely be the worst quarter ever for the Dow in terms of the first quarter.

Let’s bring in JP Maroney founder and CEO of Harbor City capital, JP thanks as always for coming on to talk markets. Good morning. My pleasure. A good morning to you. Good morning again, this quarter obviously been one that many investors would just as soon forget what’s in store for Q2. Yeah, it’s been a roller coaster ride. You know, it’s funny. I heard a quote the other day in a TV show it said “Roller coasters are fun in an amusement park, not so much in an Investment Portfolio.”

And March was pretty rough, pretty good. But you know, here’s the deal when we look ahead to April, I don’t know. I mean listen, I know the president keeps saying this, a lot of people keep saying this, we’ve got a whole new set of rules here. We knew that this year was going to be volatile. We have an election year, then we had the oil prices plunging, and then now we’ve got Coronavirus. I’m talking about this and calling this America’s economic Triple Threat lately. We are in a situation that we’ve never seen before.

I do appreciate the honesty just in terms of how uncertain these times are. Given that, what are you advising clients right now? You know, we’ve been talking for the last few months that investors should expect some kind of correction. We didn’t expect it to happen this way or for Coronavirus. Obviously, no one could predict that as the trigger event that caused this but we’ve been telling people for a long time take some of these winnings off the table and do some things with it with fixed income.

But you know now investors are forced to make some really tough decisions and some are being forced to make some really painful trades. We’re folks if you have the opportunity to take some off the table and to be able to put it into fixed income something that you know that you can count on that’s predictable and reliable, like we’ve been doing it the at Harbor City with the secured bonds, something that can give you some sort of reliability.

And it really goes back to basic investment principles because some people if they’re younger may not need to do anything they might just ride this out because we know these things come back. It’s just a matter of how long it’ll come it takes to come back. And often right? we have a short downturn in the market or volatility like this and then things smooth out but we are certainly overdue for something that could be an extended downturn or slow down in the market. And if you’re at a retirement age well you may not be  able to afford to wait, may not have the runway to come back from this and so you might be looking at other assets that you could liquidate that you could put into something that can give you the kind of income to be able to maintain your lifestyle.

Well I’ll look forward a couple of days JP. We’re going to get this brutal once you punch this week. Weekly jobless claims are Thursday, and then the March jobs number that comes out Friday and that’s going to be the end probably of a hundred and thirteen straight months of jobs being added to the economy, which was just such an incredible run. How do you suggest that investors digest these numbers when they come out? Well it number one is we always say the rule number one in this is to make sure that you don’t let your emotions get the best of you. Unfortunately people buy at the wrong time. They sell at the wrong time in most cases and there’s an old saying that says never try to catch a falling knife. I think people who are trying to predict where the bottom of this thing is, are going to come up with very bloody fingers over the next few days.

So looking at the numbers, you’ve got to at least hold the line and figure out where you are as a person. What can your portfolio tolerate in terms of risk and what can it tolerate in terms of a long-term slowdown? But as you see those numbers come out, you can’t let them get the best of you and make a really bad or dumb decisions. All right. Great, great advice. JP Maroni of Harbor City capital. Thanks as always for joining us. Appreciate it.

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