MarketWatch
I started the year with $3.85M but ‘have watched my accounts drop 20%.’ When I asked about it, I got ‘unsatisfactory’ answers from my financial adviser. That said, he ‘by and large has done well for me.’ What’s my move?
Question: I have watched my accounts drop 20% this year, which is better than the market, but starting in March and again in May, I traded messages with my broker asking what, if any change in direction/investments they had made/would make given market volatility and challenging economic times, as I can see very little movement in the large basket of stocks they hold in my accounts. Or should there be a change in investment strategy and perhaps even going to some increased level of cash to take advantage of beaten down stocks? Answer: First up, the lack of quality communication between you and your broker is an issue – and could even be a reason to find someone who can and does explain what is happening with your accounts to you satisfactorily.
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