FORT WAYNE, Ind. (WPTA21) – Wall Street has been taking investors on a wild ride since mid-December.
But the ups and downs don’t have to cause panic–at least that’s the feeling of one Fort Wayne financial advisor.
Wednesday, the Dow Jones Industrial Average soared more than 1,000 points, closing at 22,878.45.
But lately, it has been in “free fall”, plummeting about 3,000 points the past couple of weeks.
It is a challenge to watch the numbers dropping off the table, like the 653 point loss by the Dow on Christmas Eve, and not feel like you’ve gotten a lump of coal in your Christmas stocking.
“It’s really no surprise to anybody,” said Louis Luera of Fort Wayne.
He says he has dabbled in investments for years, always making sure to keep his risk under control.
If you don’t have the stomach for a loss now and then, he says, you should steer clear of Wall Street.
“That’s been going on for years so you come to accept…like the gas prices, you know, they go up and down,” Luera said.
Darlene Burridge is shaken up about a serious illness that hit a close family member.
The last thing she wants is her life savings to be at risk too.
“I went through the ’08 bust and everything, and so it’s kind of financial…not good,” said Burridge, who has put some money in the stock market for years.
“This is a stock picker’s dream right now,” said Todd Larson, with Ameriprise Financial Services.
He says investors should see the recent stock market decline like a glass half full, not one that’s half empty.
He says investors need to resist the urge in this environment to get nervous and sell, instead think about how you react when you see the price of gasoline slip to around $2.00 a gallon.
“We think let’s fill up, we don’t get frustrated we may have paid $2.75 for it, it’s now worth $2.00, we want to fill up our cars and put some aside for the snowblower, but when the market does it, our gut tells us to get out cause we’re losing money, which is the exact wrong response. The economy is not growing as fast as it did last year, but it’s still growing,” Larson said.