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FREE Bedskirt & 2 Pillow Cases (our choice) with $100 purchase or more (before taxes) A L L S A L E S F I N A L ! w w w .in si de H A LT O N .c om O A KV IL LE B EA VE R T hu rs da y, A ug us t 25 , 2 01 1 1 8 This year our lazy days of summer were interrupted by volatile stock markets that saw a one day loss in global stock values of $1 trillion. Financially, it has been an ugly summer. Investors are frustrated, disappointed, fearful and angry. Many are angry with themselves or their investment advisor. A review of the fundamentals of investing can offer some meaning to the roller coaster ride our portfolios have been through. The reason for the recent financial mar- kets tumble is no different from past peri- ods of uncertainty and decline. Some would suggest that the financial problems with some countries make it different. Yes there are several variables. The United States had its credit rating reduced and sev- eral European countries faced the financial risk of not being able to pay their bills. These are just the current problems of the day. What happened was stock markets were volatile and some investors saw the value of their portfolios decline, and some sold their investments at a loss. Stock market volatility can be expensive. Without seeming too harsh, my advice is to get used to it. Volatility is normal. These financial downturns have hap- pened before and will happen again. That is just the way the markets work. We must have these types of volatile stock markets for you to be successful. Stock market declines benefit long-term investors because they need risk to get the returns they ultimately hope for. Risk is how we measure the annual volatility of an investment. A conservative investment like a bond or a Guaranteed Investment Certificate paying a specific amount of interest is not very volatile or risky. Therefore, the returns will be lower. However, stock values during any given year can be extremely volatile, so they are considered more risky. Investors require a higher return for taking on this risk. They determine their return by how much they are willing to pay for an invest- ment. So if you invest in equities, you do take risk. That risk is ultimately your strategy for achieving excellent returns. The key is your time horizon. If you have a long investment period, then times during which your portfolios value declines should not be a major concern. Of course, you wish that you could pre- dict the market to avoid decline; however, that is not possible. If you are a long term investor then time is on your side and you can wait for markets to rebound. There is no guarantee markets will recover in the future, but history is on our side. Over the 200 years that stock markets have existed there has never been a period where markets did not fully recover from losses and go on to achieve new higher values. If your time horizon is short then you cannot wait for a recovery. In that case you are taking a real risk by being invested in stocks. Perhaps money that is needed soon- er should be invested in safer low paying options like Guaranteed Investment Certificates. So everything happens for a purpose. Everything is connected. You invest for the long term and you take risk. That risk, however, is short-term volatil- ity. Declines in the value of your portfolio will occur. That risk is what is required over the long term for you to achieve good investment returns. We hope this simple review on the logic of how markets work provides some level of comfort during these uncomfortable times. Submitted by Peter Watson, MBA, CFP, R.F.P., CIM, FCSI. In 1991, Peter founded Peter Watson Investments in Oakville. Peter can be reached at 905-842- 2100 or visit the website at www.peterwat- soninvestments.com Short-term volatility should not bother long-term investor Dollars & Sense By Peter Watson