Local financial advisor talks stock market ups and downs

We sat down with a financial advisor at Edward Jones in Chico, apart of one of the biggest firms in the country, to see what he advises his clients to do during times like these.

Posted: Feb. 7, 2018 6:54 AM
Updated: Feb. 7, 2018 7:09 AM

Investors still are recovering from historic ups and downs of the stock market this week. 

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The index made a major rebound after Monday's huge 1,175 point loss making it he largest single-day point drop ever.

But then on Tuesday, after a rocky start, stocks soared, and the dow finished the day up 567 points, or 2.3%.

We sat down with a financial advisor at Edward Jones in Chico, apart of one of the biggest firms in the country, to see what he advises his clients to do during times like these.

"Stay the course and add money on a regular basis so you can take advantage of the ups and downs, but also don't try to time the market. Even the experts can't do that," said Ken Hagins, Edward Jones Financial Advisor.

Hagins says his clients are long time investors and he trains them to expect situations like this in the fluid stock market. 

He also quoted Warren Buffett saying, "The market is really good at taking money away from impatient people and giving it to patient people."

Hagins calls the historic plunge more of a dip and says he wasn't worried for clients when it happened. Instead he advises them to take advantage of the situation. 

"Yeah, we're on the phone with our clients saying if you have more money available you should bring it and we will add it to your portfolio," said Hagins. 

Current stock market conditions: http://money.cnn.com/data/markets/

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