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Vancouver, B.C. (December
15, 2000): This morning's business press
points to signs of a “hard landing”
for the North American economy as Canada's inflation
rate hit a nine-year high, US retail sails drop,
corporate profits take a dive and major corporations
such as GM, Ford and Daimler Chrysler plan to
reduce production in the face of poor sales. One
headline reads “The Wheels Come Off”.
However, investment counsel and
financial advisor, Adrian Mastracci of
KCM Wealth Management believes savvy investors
will find a silver lining in the upcoming storm.
“In this sort of volatile environment,
the conventional wisdom says sell what you can,
head for the sidelines and take cover,” says
Mastracci. “But, unconventional wisdom points
to the upcoming economic storm as an excellent
opportunity for individuals to review their long-term
plan and investment portfolio, practice a little
investment patience, brave the elements and take
advantage of upcoming buying opportunities.
“When an economic storm hits,
the result is often a ‘fire sale’ of
otherwise good investments at tremendous discounts.
Sure, you can skip this ‘sale’, but
I think it’s a lost opportunity for anyone
building a long-term portfolio.”
Mastracci adds that buying fundamentally
sound investments when everyone is dumping them
and running for cover takes a little courage,
but in the long-term the potential rewards are
more than worthwhile.
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