Quiet summer for investors? not so much. China unexpectedly devalued its currency, signaling that its exporters may need help to maintain growth. The markets tumbled, and there’s less certainty over when the Fed will raise interest rates. Added to that, oil prices have dropped to their lowest point since 2009, and there is real potential for ongoing volatility.
So it was ironic that “Handle With Care” by the Traveling Wilburys was playing in the café I ducked into for coffee before I started to write this column. The first line, “Been beat up and battered ’round,” seemed to describe recent events. While our clients understand that their diversified portfolios are built to withstand market swings, their emotions may sometimes get the best of them.
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