A lot of people aren’t happy with how their year-end stock portfolios are looking, but local financial advisor Howie Pentony advises investors to stick it out for the long haul.
“The markets have been all over the place,”Pentony said in an interview Wednesday. “But this is what markets do. They’re up and then they go down.”
He acknowledges this “turbulent time” isn’t easy- It’s downright scary for some, and that’s understandable. But, he says it’s not time to pull out your money.
“Most investors today- I think- have their accounts where they’re comfortable. In other words, they are taking the risks that they are comfortable with. If they haven’t done that, then they need to take a look at it. So, when something like this happens, it doesn’t protect them from losing money, but they do have some kind of control over just how bad the losses are,” he said.
What will happen with the stock market as we start 2019 next week?
“I don’t have a clue, we’re not in the forecast business,” Pentony said. “But, the trend is up. And the problem is not here in the U.S.- our job market is good, GDP is good. We’re being affected by rising interest rates and the way the world is.”
Howie Pentony runs Pentony Capital Management in Portersville.
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