"The biggest mistake people make in an event like this is to sell after a sharp fall, which locks in a loss, and then they miss out when the rebound comes, " said AMP Capital chief economist Shane Oliver.
Mr Montgomery said some businesses will be affected directly by coronavirus — such as airports, airlines or travel agents — while other quality companies would emerge from the slump in reasonable shape. A private client adviser at Hewison Private Wealth, Chris Morcom, said that for people in the "accumulation" phase of super, a market downturn was an opportunity to buy units in their fund more cheaply. It was not a time for these members to become more conservative in their investments."It's a good opportunity for accumulators to keep accumulating," he said.
Dumping has looked fairly optimal so far.
Rubbish. I put everything into cash a month ago. I saw this coming.
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