Reporting John Ostapkovich
Filed underBusiness & Economy, Consumer News, Heard On, Local, News, Philadelphia, Syndicated Local, Watch + Listen
By John Ostapkovich
PHILADELPHIA (CBS) — International financial markets have been moving into a 24-7 cycle for some time, but with the European debt crisis, the two trends feed off one another.
“European stock markets are sliding…” intones the announcer on a typical recent business report.
Such early morning business reports can contain disconcerting — or encouraging — news. But to really ride that bronco, you’d have to be up in the middle of the night.
For traders all over the world, local time is now a luxury they can’t afford, notes LaSalle University finance professor Walter Schubert, who says the constant immediacy adds “contagiousness” to any news.
But Schubert says the best medicine for individual investors is diversification.
“So, if you’re offered a global fund, for example, for stocks, that’s a better idea than a domestic-only fund,” he suggests. “Make sure you have some diversified bonds.”
It’s not necessary to get up at the Bloomberg machine at 2:30 in the morning?
“No, I think that’s a bad idea, actually,” Schubert tells KYW Newsradio.