If you’ve been anywhere but on a desert island this past week (and I can only hope that’s precisely where you’ve been!) you know it’s been a wild week for the market, and a wild week of headlines focused on Greece, Puerto Rico, and the resulting market volatility. “Greece’s Debt Crisis Sends Stocks Falling Around the Globe,” announced the New York Times. “Greecedebt talks: EU chief feels ‘betrayed’,” according to the BBC. CNBC stated, “Stocks ignored Greece, now pay the price.” On Puerto Rico, the New York Times headline read, “Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’” alongside The Wall Street Journal’s story, “Puerto Rico Releases Report Calling For Concessions From Creditors: Report’s release sends some Puerto Rico bonds to record lows.” Clearly the world—and the markets—are reacting.
But should you?
While there were a ton of alarm bells going off in the media Monday, the news that struck me the most was CNN Money announcing the “worst day for Dow in 2015.” It seemed to hit the core of my thinking…or at least to beg the question, “What does that even mean?” I’m an investment advisor, and I can tell you this: for long-term, prudent, and informed investors, it shouldn’t mean a darned thing.
Read more at Iris.xyz.