Drew Tignanelli, president of The Financial Consulate in Lutherville, has 28 years of experience in financial advising and wealth management. Tignanelli is a certified financial planner and a certified public accountant. On Tuesday, Tignanelli spoke to The Examiner about the current state of the stock market.
How would you explain the recent stock market fluctuations?
The larger institutions aretrying to keep the market momentum going, because if they don?t, the market might fall apart. They?re doing this by buying stocks and selling puts ? they?re hedging themselves. They?re trying to prop the market as much as possible. I don?t feel great about the market, and we could be in serious danger. Ultimately, time will tell.
What advice would you give stock buyers/sellers?
The easiest decision to make in the stock market is the “buy” decision. Making a “sell” decision separates the men from the boys. If you don?t know why you bought, you?ll never know when to sell. Obviously, you should sell if you don?t want to be in the market anymore. You don?t have to be in the stock market for only long-term investment. You have to be involved in the thought process.
Which markets should buyers now target?
There?s always a good market out there. I think the Japanese stock market is looking really strong. International bonds look relatively strong compared [with] the U.S. dollar. Any pullback in Asia, you should buy there. Resort real estate is one investment opportunity to look at as the real estate market gets hammered. This will be the last great buying opportunity between now and 2010, but you have to negotiate hard.
