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Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Millionaire Investors Keep Cool in Recent Market Selloff

Most millionaire investors hold steady in recent market shakeup.

Nearly 60 percent of Millionaires feel the recent market downturn was based more on emotion than fact, according to survey of 1,245 investors conducted in August by Millionaire Corner.

 Affluent investors as a whole kept their cool during the selloff, which was all-too reminiscent of the 2008 downturn preceding the “Great Recession,” but Millionaires appeared the most stalwart. The group is defined as having a net worth of $1 million or more, not including primary residence.

 Millionaires were evenly divided over whether the August selloff constituted a crisis or a normal market change, but more than 55 percent said their experiences from the market crises of 2008 helped them cope and they were “not upset with the drop in stock prices.”

This sanguine attitude was shared by investors with $100,000 up to $1 million, but investors with less than $100,000 appear to be more shaken by the recent market turbulence.

 Retired investors are also more inclined to attribute the recent downturn to emotion-based selling. More than 61 percent of retirees would describe the selloff as based on emotion, not fact, compared to 55 percent of investors as a whole. Retirees may have achieved their perspective from lessons learned in the recession and over a lifetime of investing. More than 58 percent say they feel better or much better prepared for the recent market downturn, compared to the selloff of 2008.

 Management training and an expansive world view contribute to the extremely confident and competent investor profile typical of senior corporate executives. More than 60 percent of executives say they feel better or much better prepared for a downturn this time around, and more than 42 percent say they view the drop in August as a normal change in stock prices – not a crisis. Nearly 65 percent of executives took the recent market downturn in stride and said they considered the selloff as based more on emotion than on factual information.

 True to form, men expressed more confidence with market conditions than women. Nearly 58 percent of men said the recent downturn was emotion based more than fact based, compared to 52 percent of women. Men are also more likely than investors as a whole to feel better prepared to face current market events, and more likely to view the most recent selloff as a normal correction.