Isn’t Halloween on the 31st?

October 15 was quite a scary day for Wall Street with the index opened lower and plunged to its -3.04% in the early afternoon. The deepest intraday low since the -3.86% since the nosedive in November 2011. A buy the dip strategy subsequently kicked in with the index closed with a greatly trimmed -0.81% decline.

I hate to blame this on external factors but animal spirits rose with the Ebola scare exacerbating the fear. Economic and earnings reports are positive, in fact on the jobs reports unemployment claims came in with the lowest number since 2000.

You have heard me use the “history may not repeat itself but it sure can rhyme” saying many times, so looking back at march 2009 the S&P was down -7.40.  All of you should know what happened since then. If you don’t then you need to call me and I will give you a quick review.

Corrections happen but discipline investing will always overcome and profit from them. There are a lot of things to buy now and these events like Ebola will become old news very soon. I have never made money buying at the high but buying at the low has worked pretty well.

Bill

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About billriley

Chief Executive Officer, Chief Compliance Officer A co-founder and shareholder, William Riley is a 33 year industry veteran, who observed, many years ago, that over time institutional investors typically outperform individual investors while accepting less risk. In his role as Chief Executive Officer, Bill works tirelessly to make the wealth management strategies used by the world’s wealthiest families and largest institutions available to our firm’s individual clients. Bill combines fundamental and technical analysis to minimize investment portfolio risk and maximize potential returns. He uses a variety of non-correlated asset classes, including alternative investments, to minimize portfolio volatility and seek absolute returns in down or flat markets. Finally, Bill believes in a comprehensive approach to wealth management that fully coordinates and seamlessly integrates portfolio management, risk management and asset protection, trust, estate, tax and charitable planning. Prior to co-founding Riley Wealth Management ,LLC, Bill held management positions at Merrill Lynch, UBS, Raymond James, Paine Webber and J.C. Bradford. Bill founded Fort Worth branches for Raymond James and J.C. Bradford. Prior to entering the financial services industry, Bill ran his families closely held businesses. Bill’s experience operating family businesses combined with his wealth management experience makes him uniquely qualified to advise entrepreneurs and business owners on a variety of matters including complex and sensitive issues relating to business succession. Bill’s degrees and designations included a Masters Degree in Business Administration (MBA), the Chartered Financial Consultant designation (ChFC), the Chartered Life Underwriter designation (CLU) and the Wealth Management Specialist designation (WMS). A Fort Worth native, Bill is a TCU alum and active in many civic and charitable organizations. Bill and his wife, Marsha, now reside in Colleyville, and they have four grown children and four grandchildren. When he is not working on portfolios or studying financial markets, Bill can be found on the golf courses of Ridglea Country Club.
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