Now is not the time to adjust your risk tolerance (upward) or abandon diversification.

In May 2006, I received my mutual fund license and began my career selling mutual funds at a bank—just shy of 20 years ago.

In 2007 I moved up to the bank’s wealth management division, got securities licensed, and not long after that the financial world came tumbling down amid the Great Financial Crisis.

Conversations with clients were entirely different in those early days than they are today. Most of that time involved coaching clients to consider equity mutual funds to meet their long term retirement and education planning needs, as opposed to GICs, and to follow a well-diversified strategic asset allocation (not having all your money in Canadian equities). At times in 2008-2011, the discussions centered around staying in your proper asset allocation in the face of tumbling markets and frightful news headlines.

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Past Returns May Be Hazardous to Your Portfolio’s Health
Understanding market cycles, risk tolerance, and why chasing past winners—like U.S. tech stocks—can be a costly mistake for long-term investors.
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