Well it has been a difficult week in the market. As of this writing, Thursday at 3:15pm CST, the Dow Jones Index* closed down 512 points, it's now at 11,383.68
Here's 3 things the "talking heads" on TV will tell you;
- This is the worst one day drop since October 22, 2008.
- In the last 9 trading days, approximately $1.3 Trillion ($1,300,000,000,000) of value has been lost in the market decline.
- The market has been down 9 of the last 10 days.
You may be wondering, what should I do?
First, don't get distracted by sensational statistics like the ones above.
Second, remember, "we want to be buyers when everyone else is selling". That's when we get "the best deals".
Third, don't sit and worry about how much your account MIGHT be down. Pick up the phone and give us a call, I believe you will be pleasantly surprised with your results.
By the time you read this, Doug & I will have completed a review of your investment holdings, and we should have a good idea of where we see risk and where we see opportunities.
FYI, since the beginning of the year our investment recommendations have been on the conservative side. That's because we have been expecting a pullback in the market.
We Guide, You Decide
Stephen Rimmer, CFP®, Certified Financial Planner™
Doug Brown, Investment Advisor
August 5th, 2011
* The Dow Jones Industrial Average is an unmanaged index of 30 widely held stocks.