News: Happiness is a Decision
CEO Peter Davies was recently quoted in an article on investing, order flow trading, and the volatility of the stock market and economy in general.
“If you are averaging into a position monthly, I’d have to be wondering if these prices are a good time to do that. How many businesses have you driven past in your area that are gone for good? How likely is it that you might need that 500 dollars at some point in the near future if these cycles of shutdowns continue? Given the sheer amount of businesses that have died, are these stratospheric prices reasonable?
What I would do: Keep the 500 dollars a month for now and put it in your rainy day account. If you miss out on some of the moves up, that’s not the end of the world.
If we get past COVID and things still look rosy and we continue to climb, start getting back in. If the stock market does plunge and start reflecting the damage COVID has done to the economy, you can use that rainy day fund to scale in as it descends.”
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