Originally Posted by redexpress
My well known financial advisor sold pretty deep into the market fall. I'm down $150,000. Replaced a somewhat balanced portfolio with Treasury ETF, gold miners, and $150,000 cash. I about blew a gasket Their response was they think it will go lower. All, most, of the activity is retail investors with very little institutional buying was their reasoning.
Yeah whatever, the market is still up and getting closer to the pre crash highs.
So selling low and buying high. I'm trying to rationalize it by thinking that whenever they get back in I will be able to see the markets go higher.
I'm also thinking of shopping for a new advisor.
Give it some time and you should be fine. It might be a W-shaped recovery and not V-shaped. A lot depends on how we fair with the states opening up. Lots of unknowns still. The market may be getting ahead of itself. Just watch some TV and go fishing. Forget about it!