Certain Advice for Uncertain Times
Dear Client and Fellow Investor,
We understand that market volatility can be unnerving and lead to anxiety. However, we view the current market correction as a normal intra-year event which creates opportunity to reposition portfolios. Keep this comment by Warren Buffet in mind when thinking about the market in general.
“The 20th Century saw two world wars, multiple recessions, assassinations, the resignation of a disgraced president, oil shocks, hyper inflation, terrorist attacks and so on. Yet the Dow rose from 66 to nearly 11,500.”
Over the short term, economic and political events may cause stocks to go down. But over the long term, the American economy is strong and resilient, which causes stocks to go up. Pessimists tell us to stay out of the market, but these doomsayers have a lousy track record at predicting the future.”
Source: The Bottom Line, Summer 2013 issue, Warren Buffett's Certain Advice for Uncertain Times
If you have any questions or would like to discuss your portfolio, feel free to contact me.
Mark E. Engberg, CFP®