Despite this disastrous day, there is a feeling among some, perhaps a wishful one, that this sell-off is good for the market. Tim Ghrisky, senior portfolio manager at Dreyfus tells Channel 5 he thinks the trend is near bottom. Nonetheless, he warns that any investors who want to get into the market at this point must diversify their holdings and beware of risky sectors like tech, media, and telecom. Take some of these assets and put them into other areas of the market where you can make money today. But not everyone agrees.
Many experts insist investors are best off hanging tight, weathering the storm.
To take the money and run at this point, they say, may mean missing out on a rebound, assuming one is on the way. President Bush seems convinced it is. I've got great faith in the entrepreneurial spirit and I believe the plans we're putting in place by working with Congress are going to service as a second wind for economic growth.