At CCEDC Economic Summit, Financial Advisors Warn Against False Alarms
The recent scare in the stock market is nothing more than a false alarm, according to some Chester County financial professionals.
For those with a long-term perspective of their retirement portfolios and the risk tolerance to weather the short-term storms, “the market has always come back,” West Goshen’s Key Financial President Patricia Brennan was paraphrased as saying in Daily Local News coverage by Brian McCullough of the Chester County Economic Development Council’s 12th Annual Economic Outlook.
“We don’t think this is the end of the bull market,” said national Edward Jones investment strategist Kate Warne in the article. “Over time, stocks are supported by economic and earnings growth. We expect the economy to continue to grow modestly, and we think corporate profits will rebound as oil prices and the dollar stabilize over 2016. Don’t let the shaky start to the year undermine your confidence in the longer-term outlook.”
The speakers shared their analysis in the midst of some Dow Jones Industrial Average drama on Friday, and neither oil nor China are reasons to be overly concerned.
“Our economy is cruising along at 35 miles per hour, which is all right unless you want to go 55,” Fulton Financial Advisors CEO David B. Hanson said. “The rest of the world is going 5 or 10 miles per hour, and some are going in reverse. I don’t see any indication of a recession anytime soon.”
Read more about the pros’ take on current investment conditions in the Daily Local News here.
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