Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The economic threat posed by coronavirus is "the perfect storm" of numerous market pressures, Rich Steinberg, chief market strategist at The Colony Group, told Markets Insider in an interview.
Instead of freezing in their tracks, investors should shore up cash and make a "shopping list of stocks" to buy up once they hit desirable prices, the strategist said. Markets are reacting similarly to the coronavirus pandemic, but the latest market threat "is not the same" as that financial crisis, the chief market strategist at The Colony Group told Markets Insider in an interview. Markets' spike in volatility came from a number of dormant factors and reignited market panic not seen in more than a decade, the strategist said.
Even if investors are frozen in their tracks, Steinberg recommends they move now if they're looking to win down the road. The sell-off gives investors the perfect time to review their portfolios and shore up cash for buying in the near future, he said. Companies with "strong cash flow, strong franchises, good governance" are best positioned for weathering coronavirus risks.
We used all of that cash for toilet paper. I guess we weren't brave enough ghosts this time. Maybe next crisis!
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