INTERVIEW: Wall Street woes fueled in part by panic mentality

KARE 11 TV - INTERVIEW: Wall Street woes fueled in part by panic mentality, Nate Wenner, August 24, 2015

John Croman interviewed FPA Member Nate Wenner for the piece. Here's the full transcript (some of which was edited out of the aired video):

The Long Haul

Investment adviser Nate Wenner told KARE that people who depend on the stock market for their retirement need to take a long-term approach to those investments, and not overreact to a single day's trading.

"It's natural to have emotions, but sometimes I tell people it's better to just take your pulse, take a deep breath, sit on your hands for a little while," Wenner remarked.

He noted that the stock market has had several other dips in the past few years in reaction to worrisome economic and political developments, such as European monetary policy and the specter of a U.S. government shutdown.

"Here in the moment it feels huge, and a lot of times people can't see the forest for the trees because of all these things happening right here and now, but people forget that this is a normal thing."

Wenner pointed out the economic conditions in the United States are much better than the were in 2008, when the nation was in the clutches of a slumping real estate market and mortgage banks were on the verge of collapsing under the weight of bad debt.

"In the short term there are going to be those gyrations that are going to feel like uncomfortable and it's going to make you want to do something, but a lot of times you should not do something," Wenner explained.

"If you had a good plan and you're well diversified, and you have lots of different types of investments you're going to work out well in the long term."