April 24, 2023
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While market movements can certainly be exciting and, on the other hand, unsettling, it’s crucial to remember that investing is a long game where you benefit most from sticking it out over the bumps.
If anything, a market downturn is a good time to buy stocks cheaply and invest in Fine Art. For those who want to take advantage but have low risk, Kendall recommends a dollar-cost averaging strategy, which essentially entails investing small amounts at regular intervals rather than investing one lump sum. This helps to reduce the impact of volatility on an investment, he explains.
Kendall also suggests that investors take “government subsidies” by realizing their losses.
In other words, those who choose to sell an underperforming investment that’s losing money can then use that loss to reduce their taxable capital gains. “I like to put this simply by saying if you own Coke and it is not performing well, consider selling and buying Pepsi,” Kendall says.
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