SANTA BARBARA, Calif.-Tim Tremblay of Tremblay Financial Services said he has guided countless clients through uncertain times like these.
On Monday, the Dow Jones Industrial Average fell by about 900 points or by 2 percent.
The S&P 500 index dropped 2.7 percent, and the Nasdaq, known for tech stocks, fell 4 percent.
Some financial websites called it the worst day since 2022.
“Folks are calling, I have to hold hands during his time and that is part of the business and when we are done with our phone call they are always feeling a whole lot better because they see this is really not that unusual, we have seen these kind of downturns” said Tremblay.
On a day like today his staff at his office off State Street in Santa Barbara works to allay the fears of longtime clients.
“I’ve had this experience, I have been doing this since 1983.”
Tremblay said he has learned a lot during historic market ups and downs.
“Keep the emotions out of it.”
The Former Wake Forest University football player saves his emotions for an enviable sports memorabilia that decorates his office.
Tremblay said he doesn’t criticize the financial media for the using the word “uncertainty,” repeatedly.
“It is uncertainty when you look at what is going on in the market, the tariffs, are they good or are they going to be bad, political consternation takes place and caused people to feel uncertain and it is uncertain to see down the road how these things are going to affect our economy,” said Tremblay, ” But the one thing I can certainly tell you is if you stay the course and do the right things even during these difficult markets you are going to be just fine.”
Tremblay, who used to teach financial terms on television on KEYT, usually recommends staying the course.
“Look at all these times the market has come down and if you continue to buy on the downside, on the way up you would be so much further ahead.”
He said an investors time frame is important to consider.
“Look at your strategies and follow them and stay the course.”
Many investors do dollar-cost averaging by investing a fixed amount of money regularly to reduce risk.
“It is so bad when people invest and make decisions for their future based on emotions, take a look at the facts and look at what you are trying to accomplish and look at the stocks you hold, it might be time to buy more, you might want to dollar cost average if we dollar cost average with a positions your cost basis decreases during these downturns and you applaud the market when it comes down.”
Investors are often asked to consider what they hope to accomplish with their investments.
“Each person is going to be different, what is your time frame, when are you going to retire are you long term or short term each of those situations are going to require different strategies, so it is real important to look at what your goals are,’ said Tremblay.
Your News Channel will have more on the financial market tonight on the news.
