US Stocks: Investing Tips After the Standard & Poor's Downgrade ABC News
After one of the worst days on Wall Street in recent memory, there is a great deal of talk about international credit, bond yields and defaults and ratings. The burning questions on many people's minds seem to be: what does that mean for your investments?
Financial planners say not to panic, but now is the time to take a hard look at your portfolio.
Should I sell? No -- but maybe you should buy.
Ted Schwartz, the president of Capstone Investment and an investment adviser in Colorado Springs, Colo., cautions investors not to sell "partly because of the lack of liquidity right now."
"Anything you are going to sell you are putting on a fire sale right now. Even if you decide you want to become more conservative in your investments, you might need to have a gradual approach to that, rather than dumping everything that has risk on it right away," Schwartz said.
David McPherson, a financial planner with Four Ponds Financial in Falmouth, Mass., cautioned investors to stay calm and emphasized that everyone should have a balanced portfolio that already compensates for tumultuous times with a healthy mix of bonds and stocks.
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