I got my start in financial media during times like the past few days. When the stock market is in chaos, that’s when the media (especially local) absolutely have to have an expert to opine on the market; arguably to calm investor’s fears or intensify it in some cases. If you are paying attention you may also see familiar faces on national media as perma-bears are pulled out of their caves to gloat about their “predictions,” including how they called the current “sell-off” or looming bear market. Many of these gurus have also predicted 10 out of the last 2 recessions as well. The old adage, “a broken clock is right twice a day” comes to mind here. There is not a lack of opinion on the current situation or what the future holds. You should be cautious on reacting.
As we mentioned in our very first commentary, if it bleeds it leads. As a long term investor, turn off the TV and focus on your core strategy. At Parrish Capital, our philosophy embraces the notion that time horizon and quality are the most important factors when investing in growth assets i.e. equities. We believe assets which are not needed in the next 3 to 5 years should stay invested in high quality equities. If you have an adequate time horizon, the current volatility should be looked at as a buying opportunity. Continue Reading.
Read more insights from Ted Parrish this week and each week by clicking here.