History has shown no reliable way to identify a market at peak or bottom, says Helen Baker, a licenced Australian financial adviser and author of two books: On Your Own Two Feet – Steady Steps to Women’s Financial Independence and On Your Own Two Feet Divorce – Your Survive and Thrive Financial Guide.
“What we do know is that everyone, from the big guys to the little guys, is worried about the impact of the coronavirus pandemic on the global economy,” Baker tells The CEO Magazine.
With investments plummeting in value, her advice is to hold tight and diversify. “If you exit the stock market now you are locking in losses and this will also make it more difficult for yourself to participate when the market starts to recover. And it will recover. That’s been a lesson of past health crises, like Ebola and swine flu and also the global financial crisis of 2008-2009.
“The impact of past epidemics, right back to HIV/AIDS in 1981, shows that things will come back, usually within a matter of months.
This story is from the June 2020 edition of The CEO Magazine - ANZ.
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This story is from the June 2020 edition of The CEO Magazine - ANZ.
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