The stock market is once again going crazy!
If you have been listening to the news at all lately, you will have heard about how the US debt rating has been downgraded for first time in our history. On Friday, August 5th, the S&P announced that it was reducing its credit rating for long-term U.S. government debt from AAA, the highest rating, to AA+.
To make a long story short – this is not good.
To give you an idea of what this news has done to the stock market, consider the following:
On Monday, August 1st, 2011 the Dow Jones Industrial Average closed at 12,132 points.
On Monday, August 8th, 2011 the Dow Jones closed at 10,809 points.
The stock market dropped 1,323 points or 10.9% in just one week!
I believe now is as good time as any to question conventional wisdom and to seriously evaluate our own personal investment options.
One thing we know about the stock market is that it will go up and it will go down.
The question most of us have to consider is how comfortable we are with our investments in those times when the market goes down.
If you’re anything like me, and you don’t like to lose money you have worked so hard to earn, then now may be a good time to re-evaluate your current situation.
Next week, I will be discussing the myths that surround the stock market, and why these myths need to be exposed.
In the meantime, if you are at all concerned about your portfolio, and your current investment strategies, please feel free to contact me and we can take a look at your specific situation and evaluate what is best for you.
*The articles on this blog are for education and entertainment purposes only and should not be taken as financial advice. I understand that every person’s situation is unique and should be treated as such. Please contact me, or another financial professional, for specific advice regarding your situation. I try my best to keep the information current, but things are always changing, so it may be different now than when it was first published. If you would like more information about how something listed in any of my posts specifically affects you, please feel free to comment below, email me, or call me anytime.