The deepest U.S. stock market sell-off since the 2008 financial crisis is prompt...
NEW YORK - The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have at least 10 years until retirement.
These advisers said they believe investors with a longer timeline have an opportunity to buy equities at low valuations. Duran is telling clients who feel they have to get out to either sell a small portion of their portfolio and move the cash to a bank account, or sell stocks with deep declines to book losses for tax write-offs.
“The problem with a V-shaped recovery is that nobody rings a bell when you’re at the bottom of the V,” Sachs said.
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