For a balanced take on the further market falls this week, take a look at this update from the Mancell Financial Group:
“When the market falls 7% in a day. There’s no sugar coating it. It’s very painful.
“Days like this will lead every news bulletin. They will be plastered on every front page. It’s to be expected. Unlike most other falls, one this size is genuine news. However, there’s nothing for any investor to gain by rehashing it. Our advice would be turn it off. It will be spun into ‘the end of days’ and it will be cheap entertainment.”
They go on to say:
“Investing is relatively simple – if we do nothing. The hard part is doing nothing. Instead of focusing on market movements it’s best instead to reflect on our financial plan and reflect on our goals. While days like this aren’t welcome, our portfolios are built in support of our goals. In line with the level of risk we were willing to take pursuing them.
“Those goals and plans aren’t likely to change. With that in mind, an exit to cash, which offers almost no return, cannot and will not support goals over the long term.”
Baldwin Financial Services is based in Prospect in the northern suburbs of Adelaide.
Contact us to find out how we may be able to help you.