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CNBC: “The Economy Will Recover, Financial Advisor Says,...’”

Anna-Louise Jackson | March 26 , 2020

The U.S. stock market just capped three days of gains totaling about 17 percent for the S&P 500. Amid concerns about the health and economic toll of the coronavirus outbreak, the S&P 500 remains in a bear market, defined as declines of at least 20 percent from recent highs.

“For those investors who are kicking themselves asking, ‘Why didn’t I get out in this time period?’” says Tom Stringfellow, the president and chief investment officer of Frost Investment Advisors. “The reason is simple: There was really nothing out there that said this could happen so quickly.”

If you do want to make changes to your portfolio, consider selling shares of those companies that are less attractive and investing more in those that are more attractive now, Stringfellow says. “There are so many different industries and stocks that are trading at 30%, 40%, or half off what they were a couple months ago. Investors who felt like those were good securities a few months ago, now have bargain prices.”

Excerpted from CNBC on March 26, 2020. To view full article, click here.

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