While the stock market continues to set records, today is the thirtieth anniversary of Black Monday.
And on that Monday, the Dow dropped 508 points, more than a 22% loss. Today stocks are hitting record highs, but financial planner Richard Rosso always is ready for a downturn.
“I always believe the market is in for a big fall. That’s what markets do. We have forgotten that markets do that,” Rosso stated.
And says there are similarities between 1987 and now.
“Every time we try to contain risk and try to put numbers around it that we can control that is at the point it becomes most uncontrollable,” Rosso explained.
But Rosso says the markets are always ready for a downturn while individual investors are not.