Economists’ failure to predict the 2008/9 global financial crisis was described as a ‘Michael Fish’ moment by the Bank of England’s chief economist, Andy Haldane, who was referencing the BBC weather man who failed to see a huge storm heading for Britain in 1987. However, with the FTSE100 hitting record highs in early 2017, savvy investors will agree with our headline… unless you want to risk gambling on predicting market fluctuations, security and medium/long-term financial rewards come to those who spend time IN the market NOT timing the market.
Andy Haldine was right to suggest that economic analysts and central bank forecasters failed to spot the financial ‘hurricane’ that was heading our way, and that the industry still needs a dramatic improvement in its capacity to forecast more accurately, but when we look back at the years that have followed the crash, The Financial Planning Group’s ethos has been proved the right path to take.
Of course, when stock markets dip, there is always a sense of unease among investors who never take pleasure in seeing their portfolios fall in value, but we must always remember the need for long-term strategic financial planning rather than worrying about short-term market fluctuations of which we have no control over.
Here at The Financial Planning Group we always advise investors to look for a structured, disciplined approach, rather than gamble their life savings away chasing unrealistic returns.
Our aim is to change the fundamental relationship people have with their money, and to give them confidence and clarity in their own future.
If you would like to arrange an investment consultation, please call Tim Norris or Alan Clifton on 0800 731 7614 and we would be delighted to arrange a meeting at our offices in the heart of Teddington.