Friday, September 21,
2001
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Local investment firm urges caution and calm By JOHN
THOMPSON
Monday's 684-point drop of the Dow Jones Industrial Average left more than a few people scrambling to try and find good investment advice. But local broker Elizabeth Whitlock at Edward Jones is urging people not to panic. "I am upbeat in a down market," she said. Whitlock was one of the first brokers to open a New York Stock Exchange office on the south side and has seen the market weather some storms. "Monday's market reminded me of the day after the market crashed in 1987. There was more buying than selling," she said. She said she was particularly struck by the "patriotic buying" that occurred. "We had a number of airline employees coming into the office and buying stock in their companies to show that they still had confidence," she said. In light of the tragedy, Edward Jones is offering several tips for investors: Stay the course. Once you have plotted a course toward your financial destination, it's vital to stay on track. Stay invested. Now is not the time to get out of the market. The financial markets have historically been noted for their resilience. Stay with quality. Stocks issued by companies with histories of solid growth can endure. Stay diversified. Stay focused on the long term Stay calm. Investment decisions should never be based on emotions, Whitlock said. In front of her office, Whitlock's sign reads: "God Bless America," and she plans to change it on a regular basis to keep up the morale of the community. Whitlock has fielded a lot of questions from senior citizens and retired folks who are afraid they're going to lose their life savings, but she said that's not going to be the case. "As long as people are diversified in their investment strategy and are in it for the long haul, they will be fine," she said.
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