Message from the Missoula financial advisor during the stock market crash
Wall Street has been on a wild ride over the past week with stock markets rising and falling with the Federal Reserve rapidly raising interest rates.
Bob Seidenschwarz of SG Long in Missoula spoke to KGVO News on Friday after a wild week of inflation reaction.
“It’s the digestion of the 50 basis point interest rate hike that clearly the Fed signaled would be,” Seidenschwarz said. “They clearly point to future increases, which I believe was the concern. We’re concerned that these increases will be more than expected, and that creates uncertainty, Peter, and that’s the reaction we saw the other day.
Seidenschwarz pointed to the fact that low inflation is here to stay due to rising interest rates as the Federal Reserve scrambles to stave off a recession.
“It’s a message that I really want the public to understand,” he said. “We’re going to see inflation stay, it’s not going to go away and it could get worse before it gets better. There are still a lot of issues here that are at work that I think will have a very big impact on what we see in the future. Food prices, rents, of course oil and gas, everything associated with it are the consequences of Russia and Ukraine and are always digested by the economic and political systems.
Seidenschwarz had specific advice for the over 65s in managing their investments.
“If you’re 65, you’ve got another 20 years to live most likely based on death rates,” he said. “Don’t make irrational decisions. It’s the worst thing to do, even if right now it’s the scariest part of the equation. It’s very difficult to reconcile how you feel with what your statements will look like, but don’t make a bad decision that will affect you in the long run.
Seidenschwarz said when the market falls dramatically like it did last week, it can also be viewed as a buying opportunity in anticipation of future gains.
“The key here is education and conversation, and that could be with your Schwab advisor or your advisor here at SG Long or at DA Davidson or any number of places. That’s what we do in life. This is the perspective people at least need right now. And that’s why people in my company should be active in contacting their customers and not waiting for that call themselves. »
For 2022, the Dow is down nearly 10%, the NASDAQ is down 22.5%, and the S&P 500 is down nearly 14%.
35 concerts we can’t wait to see in Missoula this summer
Here’s a full rundown of all the big gigs Missoula is looking forward to this summer.
FOR SALE: Naps Grill in Hamilton, Montana
Have you always dreamed of owning a restaurant? How about one in Montana, with amazing burgers.
10 businesses that should open a location in Missoula
We asked, and you answered, and then we thought a bit too. Here are 10 businesses we think should open a location in Missoula, Montana.