I am sure most of you are a little worried with the recent drop in the market, but this decline is good. When the Dow Jones Industrial Average was at 10,700 a few weeks ago, did you ever think ” I wish I had money to buy into the market since it’s going up quickly”. Now the markets have fallen, you can buy those same stocks or funds much cheaper than where they were a few weeks ago.
Many of your financial professionals will tell you to hold on and the market will come back, WRONG! You should be looking at what stocks have fallen the most over the past few trading sessions, and get out of stocks in your account that are not falling, Proctor & Gamble (PG) as an example. PG has not fallen much the past few trading sessions, take that cash and buy Siemens (SI), for example, which has gone from $97 per share a couple weeks ago, and now is $84 per share. You want to take advantage of market declines, and listening to your financial person say hang in there the market will come back, is a lazy way of them saying I don’t know what stocks we should buy, therefore, we should just hold our breath and wait for the market to recover. If that is your financial professionals advice, CALL ME.
I am not suggesting you start liquidating your stocks. You may want to add to stocks you already own, but nonetheless, you need to be analyzing your portfolio to see if you can make any adjustments versus simply holding on until a recovery in the stock market happens.
If you would like me to review your portfolio, have me give you a second opinion on your investments or hire me to be your Financial Advisor/Portfolio Manager, please call me at 877-944-2677 or email me at JimWigen@GetWealthyStayWealthy.com. Continue to check my website for updates on stocks I am buying and selling for my clients.