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As the market correction unfolds I have fielded many questions and concerns over the first three weeks of 2016. Let’s face it, this is not an ideal way to begin the year for investors and it causes many to question whether or not they have the correct investment strategy. Many of us still have horrible memories of the great financial crisis of 2008 and we do not want to repeat the investment mistakes that were made during that time. I will say this. This is not 2008 and we do not have a banking crisis driven by a real estate bubble. We do have problems but they are not even close to the magnitude of the financial crisis, but instead of talking about the market and the problems of the world I would like to address an issue that I believe is critical to your long term investment success.
Communication is important in any relationship. I am sure many of you would agree that most relationships fail due to a lack of communication. After all, we are all human and the ability to read someone else’s mind is impossible. Communicating with your financial advisor is key to a successful financial relationship. How often you communicate is really dependent upon your needs. I have some clients I talk to daily and some that I talk to every quarter. I have an open door policy, so anyone of my clients can come in and meet with me on any given day. I want to know what really bothers you as an investor. Do you talk to your advisor and relay the message of what you fear when it comes to investing? Look, no one wants to lose money, but it happens and I realize that it’s the nature of the beast. If you are in the market you are going to go through periods where the market does not perform the way you would like. I also realize that there is not one person in the world that hasn’t been wrong at some point when it comes to investing. It’s important to realize when you are wrong and admit it to yourself and move on.
There are going to be some investments you have made that will not rebind when the market is finally done with this current selloff. If you own any energy-related investments, I encourage you to have a professional review each one. It’s important to communicate with your advisor if the current market makes you uncomfortable. Having cash on the sidelines during times like these is not a bad strategy. You can’t lose money sitting on cash, and sitting and hoping a poor investment decision will rebind is not a strategy. I encourage you to email me at Jay@Fogelcapital.com or call me at (772) 223-9686 if you have any concerns about your current portfolio.

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