Money Magazine has interviewed eight professional money managers to determine how the current economic crisis is affecting their own financial and investing decisions. In many cases, the professionals are not making modifications to their plans. In a few cases, the professionals believe staying the course is the right decision but they’ve made some small changes to their portfolio.
Here are some quotes from those who indicated they are doing more than nothing:
“I’m putting more money into foreign stocks, especially emerging markets, which often rebound faster after a U.S. crisis or recession. I’m also buying hard asset stocks like oil and precious metals…”
“I have purchased some financial company stock of late as well. So far, that was a mistake.”
“The only changes have been to add cash into S&P 500. I bought the Russell 2000 and a U.S. large-cap fund. I added a little to an international fund. Prices are low right now.”
“I’m not making many changes [to my portfolio] because I’ve been well positioned for some time. But I recently bought some additional bonds because I found some good opportunities…”
Where pros are putting their cash, Money Magazine, October 7, 2008