Stress in the financial markets is prompting a growing number of people to make extreme investment decisions that could ultimately hit their wealth, warns the CEO of one of the world’s largest independent financial advisory organisations.
The warning from Nigel Green, chief executive and founder of deVere Group, comes as all major markets are in bear territory and are highly susceptible to coronavirus-related developments.
Mr Green comments: “It’s been our experience in recent weeks that, driven by the current unusual circumstances, a growing number of people are becoming more extreme in their investment decisions.
“The world has changed since the pandemic and this has, of course, directly impacted the investment landscape.
“Therefore, it is sensible that the fast-changing situation is closely and carefully monitored by investors.
“However, the unprecedented, emotional and all-encompassing nature of it is leading many into two distinct camps: over-action or inaction. Both could spell disaster for people’s long-term investment strategies.”