Again, markets closed sharply lower yesterday. At the closing bell, the Dow Jones Industrial Average was off 9.99%, gold was down 4.04%, and oil was down another 6.03%.
Joe Barry, Pat Barry, and Kate Alves sat down to discuss yesterday’s selloff, how it compares to past corrections, and where things may be headed next.
The full podcast can be found at the bottom of this post, but a summary of our thoughts are below:
podcast can be found at the bottom of this post, but a summary of our thoughts are below:
Information Regarding Corporate Retirement Accounts
For those of you who have 401(k)s and other outside retirement accounts with 20-30% cash levels: we believe, while the volatility may not be over, shifting 5-15% of the cash into equity-oriented mutual funds is a sensible long term move at this time. If you would like us to make a specific recommendation, please send us the relevant information to assist you.
Finally, we want to make you aware that the team at Barry has a Business Continuity Plan that allows us to continue to serve you in uncertain times. You can be confident that someone from our team will be available to address your question or request just as we always have.
If you have questions about your portfolio or our thoughts on the markets, please call your team at 888-992-8601.