SCOTS PUNTERS TOLD: DON'T JUMP SHIP WE'RE DAN FOR.
SMALL investors were urged not to panic, despite the stock market slide.Glasgow-based broker Dennis McGuinness said: "The market goes in cycles. The best advice is to sit back, weather the storm and wait for the sun to shine again."
Mr McGuinness, of Direct Sharedeal, added: "More Scots than ever have shares in privatised companies like BT.
"But even those who don't have any shares are affected by the fall in the markets because their pension or ISA savings are likely to be invested in stocks and shares.
"It is understandable that the first thought is a wish to sell up and switch funds elsewhere - perhaps into a building society.
"But with low interest rates, the returns will be very low. Moving your money into a bank or a building society is not the answer.
"Stocks and shares are for the long term. If you sell now, you will miss future growth."
Mr McGuinness said the slide has also created the chance to buy shares at bargain prices. He urged investors: "Seek expert advice and don't do anything rash."
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| Publication: | Daily Record (Glasgow, Scotland) |
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| Date: | Sep 11, 2001 |
| Words: | 179 |
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