Good morning everybody. US markets are closed in observance Presidents Day today. So since there is no real market news to report let's talk about the crazy markets we've seen since the beginning of 2016.
I know these are very scary times for many of you and your retirement portfolios. Many of you are extrapolating the recent selloff to project your investment accounts going to zero. That is FEAR talking and can put you in a position of doing harm to yourself.
If you have a well-balanced and well diversified portfolio now is not the time to be making changes in your investments. That is when people lock in losses by selling and are not in the market when they inevitably turn up again.
Now is the time to be a patient investor and let the markets run their course. If you are currently investing in your 401(k) or other retirement vehicle now is a great buying opportunity for good high-quality stocks.
The market goes down from time to time and then returns to normality and goes up again. The most expensive words and investing our "this time is different".
Don't be a market timer! Remember the market timers Hall of Fame is an empty room in Paducah Kentucky.