APRIL 2020
Special Edition In This Issue
from the President's desk - Kevin Theos During the last few weeks, I have had the opportunity to speak with many USPTA pros about the challenges and uncertainty we are all facing. One lesson I have
What we are doing during the Shut Down
learned from these conversations is that pros care deeply about how other pros are doing. Most USPTA pros realize that we are all in this together, and my hope is once we move past this terrible virus, we will work more closely than ever for the benefit of each other and for tennis. In the meantime, here are a few resources: 1. The US Small Business Administration has low interest loans for businesses and
USPTA creates Covid 19 Task Force. Keep up with the latest
independent contractors. To learn more, visit https://www.sba.gov/fundingprograms/loans/coronavirus-relief-options 2. USTA National and Southern are looking at grant opportunities for facilities and pros. When there is more information, it will be available at www.southern.usta.com. 3. Some USTA state offices will be contributing to the National and Southern grant,
YouTube Web Meetings Links Alternative Revenue Streams
while others have started their own funding for pros and facilities. If something is available for your state currently, it is on your state USTA website. 4. Many pros are getting their continuing education credit during this downtime. One way is through additional FREE content through the USPTA at www.TennisResources.com. Another option is to attend our FREE USPTA Southern webinars, which are on Tuesday and Thursday afternoons and have recently featured interviews with pros concerning niche/alternative revenue streams. We email registration
Some fun stuff and a chance to win
info to all members beforehand, and to get credit you must attend. If you want to listen to these webinars after the fact (no credit), please visit our YouTube “Playlist” at https://www.youtube.com/playlist?list=PL-t4Q0AgvqHuXlGrxlBdIrDH8qrFiUQcp I sincerely hope you explore these avenues and find some of them to be of benefit. One silver lining to consider as we look forward to reengaging with our players is that tennis ball sales are currently skyrocketing, particularly sales of low-
USPTA Southern 800-438-7782 pat.whitworth@uspta.org
compression balls. Also, families are finding available courts and playing together perhaps more than we have seen in decades, and we will have a unique opportunity to capture many of these new and returning players once we are back to work. I have experience with family tennis, and if you would like to discuss and share what you have done or might do to connect with families, please send me an email at theos@sta.usta.com.
USPTA Covid 19 Support Group USPTA appointed a task force with 12 members that has been diligently working during this crisis. The information this group has already put forth is staggering.
The group is currently working on best practices for re-opening a faciliity. This should be publilshed this week.
Not only is there support and advice from
Join the facebook group. Just search for
the group, but up to the minute notices on
USPTA COVID 19 Support Group
SBA loans, filing for unemployment, the latest protocols, and people are coping,
Many thanks to Patrick Kearns, Stan Oley,
and much more.
Tim Bainton, and the rest of the gropu
A favorite of Mark's for tennis during the shut down
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Q&A with Financial Advisor Bo Gard on investments
We asked Bo Gard what are good areas to keep a watch on right now. Here are answers to the most common questions. What happened in the markets lately? First, let me give you an update with what has been happening in the markets: This past Monday (Apr 6th), the S&P500 Index traded more than 20% higher than the bear market registered on March 23, just short of 2 weeks ago. Of course, as we all remember, the index set an all time record high on Feb 19, just six weeks ago, which it seem an eternity ago. With that being said, we are not out of the woods yet. A study of historical statistics related to big rallies off panic equity lows suggest there is a high probability that at some point we may test the previous lows again. That would be the case if the numbers in Corona virus will see a spike again at a later date, and if the government relief package makes it difficult to disburse the funds triggering businesses and consumers not having quick access to the loans and grants. What adjustments should I make with my portfolio? We strongly recommend doing asset allocation and periodically checking the risk/reward return of investments. Based on the client’s risk tolerance, liquidity needs and how much time he/she still has left in the market, we determine if we need to tone down the risk or stay the course and ride it out. For example, a younger person that has 20-30 more years in the market would probably benefit to just stay the course, be growth oriented and ignore the noise in the market. In my opinion, adjustments should have been
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done last year, when the market hit it’s all-time high numerous times. If you have been conservative last year through the present day, it may be a good time to start averaging in and start buying the market. Of course, you have to have a plan, a long-term investment goal. In today’s markets, we recommend buying high quality large cap stocks that have strong balance sheets. These are the companies that typically can withstand the risk and they will do well in recessions. How do I know when it is safe to invest again? Every year, since 1930’s until now, we have had at least one reason not to invest. From world wars, to pandemics, to financial crises, dot coms and major recessions, it seems like there has never been the perfect time to invest. Despite all reasons not to invest, the market returned an average of 10% year over year since then. So the answer is: invest now at your own pace. The market was down 35% 3 weeks ago and still is a good bit. If you don’t get in the market now, when are you going to? When it hits all time high again? When should I rebalance? We should rebalance when we see that our portfolio is not aligned with your investment objectives anymore. Sometimes we see the equity portion growing too much or regressing, especially during present times. Always check your portfolio and make sure it is in line with your objectives. Rebalancing the portfolio needs to be done on an individual basis needs, such as risk tolerance, time horizon, and liquidity needs. What areas seem scary right now? Nowadays, the most affected sectors in the S&P are oil and gas as well as utilities and industrials. Those sectors are most unfavorable on our lists.
I also see small cap companies being exposed to more risk than the mid cap or large cap. They may go bankrupt quicker than everybody else and may never come back for business. The most favorable sectors to invest in now are tech and healthcare. Neutral sectors are financials, consumer discretionary, and services. Are you in a waiting position right now? We are ready for the opportunity to come up. As I mentioned earlier, we are averaging in the market, small amount at the time (5%). We stay invested at all times and my advice will be to never get out of the market because you’ll never know when the market will turn around. A good example is the week of April 6-10 when the market returned 12.7%, having the best week since 1974. We may only have one week like this every 10 years or so and it would not be wise to miss it. Below are 4 questions that we think are very important. Answer them and see where you are: 1. Have your long-term financial goals changed? 2. Are you in immediate need of cash now to make a purchase? 3. Is your portfolio diversified enough? 4. Have you rebalanced your portfolio lately? If the answer is “no” to all questions, you may want to touch base with your financial advisor.
General Disclosures: Opinions represent Bo Gard’s opinion as of the date of this report and are for general information purposes only and are not intended to predict or guarantee the future performance of any individual security, market sector or the markets generally. We do not undertake to advise you of any change in its opinions or the information contained in this report. This report is not intended to be a client specific suitability analysis or recommendation, an offer to participate in any investment, or a recommendation to buy, hold or sell securities. Do not use this report as the sole basis for investment decisions. Do not select an asset class or investment product based on performance alone. Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs and investment horizon.
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What I have been doing Bill Bryan - LA
Craig Wells - SC
Emillia Viljoen - MS
If your opponent has you off the court and you need to regroup, we all know to hit a high lob. Welcome to the world’s high lob! It’s a big time out in life. A short time ago we were all too busy. We had to do this and that had to be done today or the world will stop. Well, the world has stopped and guess what? None of us are that important. We can’t do anything about this high lob or free timeout, so how are we going to use this time? We could spend it being a nut job but that never gets us anywhere. We could think about our businesses but after a week or so that is done. Let’s work on improving ourselves. The best thing I can do for myself, my business and the people around me is make a better me. This may mean improving my work skills, getting in better shape, learning a language or instrument, or just learning to chill. Use this timeout wisely. It is probably the only one we will ever get.
I have been taking advantage of the free online continuing education opportunities on Tennisresources.com. Great call to open up these education classes for free. Stay healthy my friend.
During this time of shelter at home, I have been working from home. This has been quite an adjustment, since I’m use to traveling 3 days a week. My daughters are home from college and busy finishing up Sophomore year in the virtual classroom. We walk around our block everyday at lunch to get some exercise. I’ve logged into a few free webinars for continuing education. My daughters and I are looking to build a roll-away backboard. Both have to continue hitting and prepare in some way for the fall season of college tennis. All our public courts in the area are locked.
Pat Whitworth - GA Special thanks to Jorge Capestany, Peter Freeman, and USPTA for their generous offers during this time. I was able to check out material on their site. Reading at least 1 book a week. Also been able to learn how to use my TRX.
Robb Carver - GA 1.Get up regular time, shower and get dressed like regular day. 2. Plan your day 3. EXERCISE 4. Read something inspiring 5. Listen to something inspiring 6. Send txt or email of encouragement to someone different daily 7. Speak only positive 8. Watch ZERO news! 9. Limit social media!
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Paul Bartholomai - GA When the shutdown began, I wanted to make sure that I used this time wisely to do the things I normally wouldn't have had time to do.I started working on a few goals: improving my personal fitness; writing down my coaching philosophy and coaching tips; creating new lesson plans and events; watching and listening to as many continuing education classes as possible. Importantly, as well, I wanted to spend more quality time with my family.At the same time, I wanted to keep my members engaged with tennis and me. To this end, I started making some videos with challenges, other videos with drills to do at home, and others with instruction. The plan is to post them on Facebook and on my new YouTube channel, and to send to the membership. The writing part is a bit more challenging, but it is helping me get my tennis thoughts in order and working on being able to share it with members. Something that I am enjoying is watching and listening on-line to lots of different classes on different topics. My favorite has been to go to the USPTA tennis resources and be able to watch all of the videos.Finally, we are having fun with the family playing games at night after dinner and having them help me record the videos.I hope everybody is doing well and taking advantage of these challenging and strange times that we are living in. Stay Healthy, Stay Active.
Use the time wisely. Our excuse has been we are too busy. Well guess what? MJ Garnett - TN During this shut down period, The first thing I did was to dip into my emergency fund to pay the staff. I have worked several shifts in the guardhouse at our club. It has been a great opportunity to connect with members and to take in webinars/videos/podcasts. At home, we created 40 Days of Family Focus: Faith, Fitness, Food, Fellowship and Following the Rules. It has been great. I am eager to implement some creative programming and get a fast start as soon as safely possible....Best Wishes to Everyone!
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What I have been doing
AT
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What I have been doing Dan Beedle - TN
Geoff Brown - GA
Pat Malone - AR
Use the online educational resources given to us by USPTA and PTR. ITF also has free courses. Jorge Capestany offered free access to TennisDrills.TV. I downloaded drills to create a drill book for the staff. I've been using the Billie Jean King Eye Coach to practice movement and hitting. Playing tennis in the parking lot using the Orange ball to work on timing and volleys. Watching tennis matches to work on seeing what the pro strategies and patterns are and when they change their strategy. I'm reaching out to fellow pros to check in and see how they are doing and what they are doing to stay active. At home workouts using TRX and resistance bands as well.
During the stay at home I have been working on a variety of ways to improve as a tennis professional. I updated my LinkedIn to increase my networking within the tennis industry making new connections. I have taken advantage of the various webinars offered by USPTA and USPTA Southern to get ahead of the curve in preparation coming out of COVID19 as well as earning continuing education credit. Along with the Georgia Professional Tennis Association (GPTA) put together a webinar for GPTA members. To offer more to my members I am working on becoming proficient with utilizing video analysis software for stroke and strategy analysis. I feel that our ways of working coming out of COVID19 and going forward will be very different than what we are use to in the past.
My family has been fishing , hiking, and staying outdoors as much as possible. I am learning new software to schedule and run events for a strong return to the courts. I am planning summer camps, family events, tournaments and rescheduling postponed events. I am continuing to work with city leaders to make tennis a priority. We are praying this ends soon so we can get back to work and playing tennis.
Bo Gard - MS I built a mini tennis court in my driveway. Playing with the kids and developing soft hand skills. Doing a lot of coordination, agility and balance drills. I am also thinking of sending a tshirt with the USPTA logo drawn by my daughter, Amelia to all of USPTA Southern board members. I will have the USPTA logo in front, on the left side of the shirt and her USPTA picture drawn on the back of the shirt saying “USPTA. Kids”. Here is the pic:
Bill Riddle - TN Personal fitness and wellness. Some may know I started a fitness journey last June more seriously and have worked at "just being better" physically. Well with "stay at home" in place and my gym and yoga studio now closed indefinitely I have moved to "ONLINE" fitness with my trainer and many of the people from my gym. Home Projects normally get gets pushed to "off peak". We have been rebuilding and painting the back deck, building custom window shutters, building a home gym and some mid major landscaping projects. Last is organizing closets, desk drawers, sheds and garages, and all those things that we are normally too busy to finish. This also includes organizing my new proposed schedule of work and life Emillia Viljoen - MS
Although this is a unique and unsettling time for all of us, I must admit, I have thoroughly enjoyed the additional intimate family time and studying the Bible.Our wife, daughter and I have been riding bikes, taking walks, throwing/kicking balls, playing trivia games, coloring eggs and watching movies. I also let them cut my hair (crazy but my barber is indisposed). As well, I found comfort in reading God's promises and studying the life he desires us to live. His peace is truly beyond our understanding.Be safe, healthy and fruitful.
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Meg Bandy - TN I have been unable to work since March 12th. I spent the first two weeks painting the inside of my in-laws lake house which of course turned into more home projects as I discovered some termite damage. I finished my tax return, have been doing yard work, hitting with my daughter on any unlocked court with a net, and binge watching Netflix. Tomorrow Claire Bartlett is interviewing me for her podcast Me and My Racket. I hope everyone is well and truly miss being on court. Happy Easter
Jeff Hawes Although this is a unique and unsettling time for all of us, I must admit, I have thoroughly enjoyed the additional intimate family time and studying the Bible. My wife, daughter and I have been riding bikes, taking walks, throwing/kicking balls, playing trivia games, coloring eggs and watching movies. I also let them cut my hair (crazy but my barber is indisposed). As well, I found comfort in reading God's promises and studying the life he desires us to live. His peace is truly beyond our understanding.Be safe, healthy and fruitful.
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Web Meeting Series 3/31-4/2
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