WBEN NewsRadio 930>Audio & Video on Demand>>Examining Brexit Damage - Katherine Christoferson

Examining Brexit Damage - Katherine Christoferson

Jun 27, 2016|

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Automatically Generated Transcript (may not be 100% accurate)

The world bracing for another day of financial anxiety. After Friday's Bre exit shocker joining us this morning is Catherine Kristofferson from the column Kristofferson group. Catherine good morning good morning to open up our how did you us survive Friday in and Perry looking at today. Well. You know I think it's a little premature. To know how this is all going to fallout. Certainly though world is focused on this event and but I think we have to put things in perspective. England or Britain is still in the Europeans. Union and will be for our probably up to two years since they decide. How this is all going to unfold. So as is typical in the markets. What we have doomed like this there's always. Reaction. But. And to date may be more of that however. I think investors need to kind of take a deep breath and not to. React to it in a negative way. Catherine we heard late last week. But some folks around here could see and on paper laws in their for a long carriers. I mean this time of 2000 dollars in jewels one day or two because of this market plunge brought on by bricks that does not possible. Well it's possible yes John but I think we have to remember at the beginning of this year we had at 11%. Decline in the market. And then the market proceeded to. Come back up and as a result of the bracket. We kind of wait out all of the teens so that the market is essentially flat for the year. But that's part of lack. The stock market is that it is about volatility and it. Because of that volatility that we enjoyed. Pulled returns that we have over a long period of time. So it is your best advice not to make any rash decisions big moves here just to kind of ride it out. Absolutely. Absolutely. And Warren Buffett. Famously said be fearful when others are greedy and greedy when others are fearful. And sell it there will be opportunities. In through olive all of this. For people to be buying into the market but. If you're in a 401K. And you're having your. Contributions made in a disciplined manner with each paycheck. Absolutely. Stay the course you're going to be buying shares. When the market is down and that's a good thing. Because they're so much uncertainty in this direction situation Katherine. Is it possible likely probable that things could get worse before they get better. Yes it is possible. I wouldn't say that it's probable but it is possible because. You know the media and it is out there just height team all of the uncertainty. And and the fear and the unknown and that always doesn't lead to people panicky. But if you have a good advisor or even if you have just. Good sense of yeah a long term investment. Program. You know that these things are going to happen I mean remember back when. So Y two K. Events occurred in everyone's got the world and essentially going to blow up and computers are gonna stop working and all of that I mean we have these events periodically. Whether it's tonight eleven and whether it pregnant. And that the essential thing is you have to realize that these things are going to happen and he he that he. Mind within this and and stay the course. And of course the Y two K event that you referred to nothing did happen. You know and it's not to say that the break this thing isn't going to. Have some effect in the short term but I told me Brit have to have elected for a short term pain for long term gain means. Keep in mind the Europeans. Union and there are some very very good things about it but some of the things sorry that. You have 28 countries with vastly different cultures languages. GDP is religions. All trying to be governed by a essentially a foreign entity and I think this is is led to the brits in particular saying you know we have enough. Katherine thanks for the insight how much quieter. Yeah it's great to talk to you that's Katherine Christina percent from the McClellan Kristofferson group.