Local Expert: Don’t Panic After Wild Week On Wall Street
PHILADELPHIA (CBS) – It is a roller coaster ride no one wants to be on. The ups and downs of the Wall Street has just about everyone, even traders on the floor saying, ‘what is going on?’
“It seems like everyday is different, we’ve entered this new day of volatility,” says Mark Newton, a trader on Wall Street.
Riding a monetary high on Tuesday, and trying to hold the purse strings on Wednesday. Anyone with a pension, a 401k or individual stocks are getting motion sickness from this wild ride.
“I’m just going to go on and deal with the rollercoaster, as it goes up and down, what can i do.
A financial expert says, not to panic.
“They look terrific.” That’s financial expert Binney Wietlisbach and she’s talking about buying stocks. She’s president of Haverford trust. A $6 billion investment company in the Delaware Valley. She says this is a great time to buy and to increase you 401K contributions.
She says, “Focus on the long run and again, companies, in particular US based companies have never looked stronger.”
She says, review your financial plan with your advisor, and stick with the plan–no matter the daily ups and downs of the market.
“Don’t worry about it today, because in the long run you are going to be well rewarded for those investments.”
Reported by Dave Huddleston, CBS 3