Wealth managers react to the sell-offs in Asia and Wall Street, that saw the S&P 500 and Dow Jones Industrial Average clocking their biggest one-day percentage losses in two years.
Wealth managers responded to this week’s sell-offs in Asia and Wall Street with the adage: stay invested.
In fact, Youssry Henien, chairman of the Windsor Family Office, did some buying in Los Angeles on Monday.
That was the day the S&P 500 and Dow Jones Industrial Average clocked their biggest one-day percentage losses in two years, on fears of a coronavirus pandemic.
‘The virus is like a cold coming and going. It will not go on forever.
‘I don’t believe that a recession is coming. On the contrary, I think the stock market is going to make new highs this year,’ Henien told Citywire Asia.
Henien set up his single family office in Singapore in December. He travels regularly to London, Switzerland and the US, where he likes stocks like Apple, Facebook and JP Morgan.
Source: https://citywire.com/asia/news/rewards-to-be-found-in-the-coronavirus-sell-offs/a1327309