E-mails, letters and website messages from mutual fund companies to nervous investors are heavily on the rise, Rocky Mountain News reports. Across the baord, the message is: dont quit the markets, for in the long term, the markets wont quit you.
Although we expect it to take time, we believe the actions taken to rescue the financial markets, along with a renewed emphasis on prudent regulation, will help stabilize markets and eventually allow for growth in our world economies, Janus CEO Gary Black is telling ishareholders. In the meantime, we believe there is opportunity on the horizon.
Across the board, fund companies are reminding investors that just when the markets look like they cant get any worse is never the right time to withdraw money, because they will, eventually and without warning, go back up. Any investor who bails out now is likely to miss the sharp uptick.
Icon founder and President Craig Callahan tells investors in a letter that his firm is riding through this turbulence with the belief that panic selling usually prices in a scenario much worse than could possibly happen. We think that is the case this time. While this exact situation is unprecedented, there have been times in the past when the stock market has focused on Congress and reacted to day-to-day developments. Looking back a year after those times, we believe any reaction to daily events was not productive.