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SPECIAL EDITION: CNBC Task Force for Market Survival
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AP You don't have to feel like this. We're here to help. |
Watching Wall Street could give anyone a headache.
At one point today, the Dow Jones fell to a level more than 10% below its record high close of about 14,000 last month. The 343-point plunge brought the index to what Wall Street calls a "correction."
Then, in a stomach-churning turnaround, the Dow fought back to end the day .. surprise! .. down by just a few points.
What's going on? There's talk of a "credit crunch," a "liquidity crisis," "unwinding carry trades" and CDOs.
It can be a difficult and confusing time for even the most experienced of investors. We're here to help.
| CNBC has assembled a special on-air Task Force, that will be appearing on CNBC-TV throughout the day to give you the common sense guidance and advice you need to help you survive the market's wild swings. |
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CNBC.com: U.S. Stocks Stage Dramatic Comeback from Session Lows (August 16)
CNBC.com Video: Investing in Wild Markets (August 16)
CNBC.com Video: Trading on Emotion (August 16)
CNBC.com Video: How to Weather Financial Storms (August 16)
CNBC.com Video: Carry Trade Unwinding (August 16)
CNBC.com Video: Subprime Concerns Spread to Money Market Funds (August 16)
CNBC.com Video: Managing Risk (August 16)
CNBC.com: Pisani's Trader Talk: Banks Beat Brokers; 'Fixes' for Mortgage Mess (August 16)
CNBC.com: CNBC's Domm - Today's Agenda in the Markets (August 16)
CNBC.com Video: Warren Buffett Tells CNBC Market Chaos Will Probably Create Opportunities (August 15)
CNBC.com Video: What Would Warren Buffett Do? (August 9)
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New York Times: Remembering a Classic Investing Theory (August 15)
Wall Street Journal: Investors Mull How to Get Out of Hedge Funds (August 15)
Los Angeles Times: A survival guide for sub-prime bystanders (August 11)
Seattle Times: Small investors' guide to market's wild ride (August 11)
Chicago Tribune: Balance, patience help weather market storms (August 3)
Kiplinger.com: What Should Investors Do Now? (July 30)
Questions? Comments?
Send us your questions for the CNBC Task Force
Email us at:
Here are some of the questions you've sent us, with answers from David Yarock, a Chartered Financial Consultant. The opinions and advice are his own.
"I was concerned about the world markets, so I moved all of my funds, about $270,000, from stock mutual funds to a Money Market fund on May 7. This is within the Florida Retirement System. The account is now up 10% and still increasing as of yesterday. I know that Money Market funds are not guaranteed. Are Money Market funds in jeopardy now?" - Aaron G.
David Yarock answers: Money Markets are one of the safest and conservative places to put your money. I don't feel that you should be concerned about the safety of a Money Market. Since you moved all your money into a Money Market at an opportune time, you might want to think of slowly moving some of your money back into the markets.
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"I have watched my money over the last week and a half just drop. Is it time for me to pull out and just take the 20% tax hit?" - Brian W.
David Yarock answers: As I mentioned it is not time to do anything rash. I would recommend consulting with a financial professional to reveiw your portfolio along with your goals and objectives.
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"What is the advice for a well diversified investor just into retirement by one year and at age 65?" - H.A.B.
David Yarock answers: I complement you for holding a well diversified portfolio and would recommend a look at other important retirement issues such as Long Term Care Planning and basic Estate Planning.
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"I am 59 years old. I plan on retiring in December of 2008. I will be receiving a pension. My 401(k) has taken a hit like everyone else's! I have 90% stocks and 10% bonds in my mutual funds in Vanguard CapOp.(40%), GroInc.(40%),Small Cap Value(10%),and Total Bond (10%).
Any advice on where to move my investment? I know I stayed too long in the high risk area, but it felt good when the mark hit 14000! I had at the time $189,000. Not much but it's a lot less now." - O.
David Yarock answers: My advice is not to panic but seek out a professional advisor for both short and long-term issues. Don't try to do this all on your own.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
