Experts Warn of Stock Market Hysteria
Markets crashed all across Europe Monday, with Germany's DAX losing 7 percent of its value. But analysts advise against panic -- in fact, they say, now might be a good time to pick up some cheap stocks.
Matthias Jörss, head of equity strategy at Sal. Oppenheim said, "At the beginning of the year, the market hid all the risks," says Jörss. "It was clear that things were first going to get worse before they got better." Read more.Other reactions...
Steve Lansdown, co-founder and chairman (Hargreaves Lansdown) and chairman of Bristol City FC, Advises
"The best thing is always take the long-term view. Those doing that in the past know shares always finish ahead." We’ve been through this several times in the last 26 years.HT Instapundit:
When markets have performed badly in the past, the worst thing you can do is panic." And alhough no evidence of clients panic-selling; he warns of loss of tax advantages by cashing in...
THE ECONOMY'S SLOWING DOWN, but the news isn't all bad: "Venture capital investments in U.S. startups climbed to a six-year high of $29.4 billion in 2007, raising hope that ample money will still be available to back promising new ideas even if the staggering economy falls into a recession."