Monday's 684-point
drop of the Dow Jones Industrial Average left more than a few people scrambling
to try and find good investment advice.
But local broker
Elizabeth Whitlock at Edward Jones is urging people not to panic.
"I am
upbeat in a down market," she said.
Whitlock was
one of the first brokers to open a New York Stock Exchange office on the
south side and has seen the market weather some storms.
"Monday's
market reminded me of the day after the market crashed in 1987. There
was more buying than selling," she said.
She said she
was particularly struck by the "patriotic buying" that occurred.
"We had
a number of airline employees coming into the office and buying stock
in their companies to show that they still had confidence," she said.
In light of
the tragedy, Edward Jones is offering several tips for investors:
Stay the course.
Once you have
plotted a course toward your financial destination, it's vital to stay
on track.
Stay invested.
Now is not
the time to get out of the market. The financial markets have historically
been noted for their resilience.
Stay with
quality.
Stocks issued
Stay diversified.
Stay focused
on the long term
Stay calm.
Investment
decisions should never be based on emotions, Whitlock said.
In front of
her office, Whitlock's sign reads: "God Bless America," and
she plans to change it on a regular basis to keep up the morale of the
community.
Whitlock has
fielded a lot of questions from senior citizens and retired folks who
are afraid they're going to lose their life savings, but she said that's
not going to be the case. "As long as people are diversified in their
investment strategy and are in it for the long haul, they will be fine,"
she said.
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