Quote:
Originally Posted by peterg1965
It may counter intuitive, but if you have investments and are a regular (monthly) saver with a long term financial goals (ie Pension) then these sort of stockmarket fluctuations are a good thing. You will be buying new stock at much lower prices, and the mechanism of pound cost averaging will average out the peaks and troughs over time.
After the crash/crisis of 2008, it only took stock markets about 18 months to recover lost ground, and the FTSE100 and other indices went up by 40% over the last couple of years or so.
It doesn't help the nerves though when you check up on your portfolio and it has dipped 12% in just a couple of weeks! As for bank shares, I want to dive in a buy BARC and RBS, head says NOOOOO. Predicting the bottom is a complete lottery. |
The "bottom" will be nationalisation so I'd be wary of the banks. (Meltdown scenario obviously)