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Oct 10, 2008 8:46 pm US/Eastern
Financial Advisors Say Now Could Be Time To Buy
PITTSBURGH (KDKA) ―
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Traders work the floor of the New York Stock Exchange on March 17, 2008 in New York City.
Michael Nagle/Getty Images
Two local financial advisors sat down with Joe Delano at the end of one of the most volatile weeks on Wall Street, and declared Friday's loss of a hundred points relatively good news.
David Hoffmann and Bob Fragasso say the market will go up, but in the meantime, both say if you have a 401-K or IRA, just hang tough.
They say this is not the time to sell and get out. In fact, it may now be time to buy stock. While some retirees emotionally want to unload some stock, these advisors don't recommend it.
If you're looking for some relatively good news, these advisors say that if you stay in the market, historically, even after the worst market crashes, you will regain all your losses in about two to three years.
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