“Mom-and-pop investors undeterred by wild U.S. stock market,” by David Randall, Reuters.
The steep drop in the Dow Jones Industrial Average on Monday, which at one point zapped more than 700 points in less than a half hour, did give some clients pause, yet none of them asked to re-allocate out of stocks, said Todd Morgan, chairman of Los Angeles-based Bel Air Investment Advisors.
“It reminded me of 1987 when there were no bids for a while,” he said. “But the fundamentals are intact and we are staying the course. I‘m not worried about a recession or poor earnings.”
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