What Not To Do Right Now
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Markus Brunnermeier
Professor, Princeton University, consultant to the Federal Reserve Bank of New York
Average people should depend on their horizon. If you're very close to retirement, you should maybe get out of it. But if you have a longer horizon, not. As stock prices fall further and further, at some point stocks eventually get very cheap.
In the current sell-off, people just got their 401(k) statements, and that's why especially now there's a huge sell-off going on.
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