Hi Friends,
The Dow Jones Industrial Average hit 30,000 this week - a new record! Here is the chart since inception:
As the "resident expert" on investing with my friends and family, it is not uncommon for people to ask my opinion about where the markets are heading. While I do not have a crystal ball, all I can tell them is "historically, just stay long" as that is what will win for long term investors.
The most recent example was a few months ago when my mom had one of my aunts chirping in her ear about getting out of the markets and going to all cash (which my aunt did) - the pandemic, the election and Iran nuclear issues were going to tank the stock markets. I told her to ignore my crazy aunt, which she did. Had she listened, she would have lost out on 25%+ returns by selling after the selloff in March-April. Too bad for my aunt, lol.
Thanks for coming by today,
Brian