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Words from Steve Forbes
Posted on February 5, 2008 at 11:59 am
Filed Under Financial Markets, Financial Planning, Investment Planning
I had the privilege of attending a live presentation by Steve Forbes last week, and it was definitely time well invested.
Mr. Forbes had much to say on the economy in both Canada and the US, and he also had some comments for the Canadian investor. One comment that stuck out to me was “It is the action of panic that is often worse then the illness itself”. I think that was very timely considering what we have seen over the course of the last few months. He went on to add that “The key thing is discipline and a long term approach” followed by “Dollar cost averaging will bail you out”.
Your Take-Away: It is very clear that many Canadians have become very timid with the current market, and there is good reason for that. I can’t help but agree with Mr. Forbes however, and I would encourage all Canadians to take his message to heart. After all, we know the markets will eventually bounce back if they could do so after the great depression, Black Monday and even the tech boom, so why would now be in different?
Stay the course, take advantage of dollar cost averaging, and take a big picture, long term perspective and not just a daily or monthly view on where the markets stand. Make sense?
If you have any thoughts on my post or what Mr. Forbes had to say, we’d love to hear them.
Until next time, have a Terrific Tuesday.
Chris
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Hello
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Great post very good and useful information
Bye
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