Chris hopkins from talk about the recent ops and the ups not a lot of belts with the ups in th stock market chris, welcome bac to michelle to last week we had the anniversary 30 year anniversary of what monday.
Couple days later we set a record high the stock market closing 23,000 right and we have seen a number of those similar kinds of records here, just ove the past week 23,000 and up.
My question is are one of is are there safeguards and measures i place to prevent another crash like had bullets.
Let's begin with.
Her term prevent absolutely not the way to do that right are some safeguards built in that that day in 1987, the market fell 500 points, which today would only be 2% of the market right back then it was 22.
The difference you write so that the dell fell to 1700 chain is a big crash, so we implemented the series of water called circuit to what they basically ours automatic pauses in the market if the index falls a certain percentage trading shuts down.
Everything goes undermining goes on hold for an error like three different levels of these ones five-minute rake once a 15 in an hour break in the course the market could step in if there was a real panic so some safeguards yes as i change the fundamental note really doesn't because crashes just the opposite of a bubble.
If you think of and the biggest obstacle to investing success i right here so the biggest cause of the crash is near as anyone can tell the psychology there was really no one proximate cause.
But a stampede began.
It took us couple years to get ove that, obviously, and that we ha just a number of events your desk weeks.
What do you say that investors need to most look forward as we get into the next couple weeks and the final cup here.
That's a great way to put it is when you're talking about weeks and months not talk about investing a talk about speculate in two different things right so for you and i were investing for retirement of whites from below closer than yours, but the point is were looking forward 510 1520 years now.
I wrote what happens in the next weeks or months is relatively unimportant as long as we maintain our folk around the tree.
The big picture.
Don't panic, don't bailout so the story of all of these crashes whether it's 87 weather was the tech crash.
It was the financia crisis in as an example, i do invested money put $10,000 in the stock target thousand dollars in the market and 87 at the crash 20 full well 20 time so you don't even remember declines in dishes long as you're in the long-haul.
You write it out.
You look back on it, those are just edits.
One thing always remember you look at your quarterly portraits up or whether to sell the twenty- year.
Financial history that there wasn't a big upswing so always will correct it's over the long also the best question was next weeks or months.
If you're in need that money is six months from now.
Don't be in.
But if you're in it for retirement for the long-haul writer.
It's always a pleasure when i checked the coming weeks it is 10 before six.
If you like the touch with chris hopkins.
You can do so is just right down the road on wall street.
At barnett and company.
The website barnett and company .com.