I'm no financial expert, but I was happy when I heard what I thought I'd hear from a local broker from investment firm Stifel Nicolaus this morning.
Bruce Barnhart advises long-term investors with quality stocks and mutual funds to stick with it. He told me after 13 months of gains, the market was due for a little correction and this is actually healthy. When the market just goes up, up, up... eventually that bubble will burst. Recent history shows what that's like. Painful.
What happened Thursday with the 1,000-point drop was shocking but should not be alarming. Seems like a fluke error caused it and the market recovered more than 600 points by the end of the day. Whew.
As an investor it's a little frustrating to see my portfolio almost completely recover from when it hit bottom in early 2009 and then lose ground during the past couple of weeks, but that's part of it.
While as a journalist I can't ignore what's happening, as an investor (with many years of investing to go) I'm going to.
Just let it ride!
Mark Schnyder is a reporter at KMOV-TV. He can be reached at MSchnyder@kmov.com.
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