A word about the markets: October 26th 2011

 

Janet Bedford, Broker Royal LePage Real Estate Services Ltd. 326 Lakeshore Road East, Oakville, On. Visit: www.janetbedfordrealtor.com

A word about the markets: Comments by Andrew Blanchard Ch.P, CFP, EPC, MBA

October 26th 2011. “Fall is a time when many clients decide to review their accounts in greater detail, and so will their friends and relatives. As for the markets, the turmoil of the last few months now seems mostly behind us and the markets have recovered a great deal of what they lost since October 3rd, when the market bottomed out. Although, in all honesty, I do not expect the volatility will ever be completely gone. When I started in this business the market was actually more volatile on a percentage basis. I was a bit shocked by this news. We are in fact, only experiencing normal long term markets. That is not to say we like what we are seeing, it’s just that clients back in the eighties had far more volatility to worry about than we do today.

I also want to let you know that I have not changed my position and I believe that the end of the year will have a great finish. The only caveat to a good market is the amount of debt held by Canadian banks to German banks. As we know, German banks are heavily invested in bailing out Italy, Portugal and Greece.  If any of these countries fail the chain reaction could be hard on the Canadian banks and as a result, our markets. So we are not completely out of the woods yet, but at least we can see the light at the end of the tunnel. I just hope it’s not a train:” Andrew Blanchard 

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