After last week's continued volatility, market experts on financial websites and television networks have been predicting where the markets are headed. Those predictions vary greatly and, at any point, you could see headlines similar to: "The deja-vu selloff is reaching a crisis bottom", "This has been a panic attack", "The stock market, inevitably, is going to crash", or "The market likely hasn't hit bottom". How do you know what to believe?
Instead of spending your time discerning who to believe and who not to believe, the fact remains that no one can predict the market. Folks and professionals can make guesses, but when it is all said and done, it's only a guess. Whether you are an investor closing in on retirement or accumulating assets, the best thing you can do is remain grounded and not try to predict the market.
Review your portfolio with your advisor and make sure both of you are on the same page. Picking a strategy that matches with your individual risk appetite and investment goals is the key to staying grounded in the market. An appropriate plan prevents you from sacrificing your long-term goals for short-term tailwinds.
Ethan Wade, Financial Advisor
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).