The stock market may be at home in New York, but NASDAQ has long called on Philly to help spread that influence wider. Unfortunately, the tech-dependent NASDAQ has seen its ups and downs this year, and the market itself is now predicting a stock crash. In the face of this, Philadelphia based traders need to start getting wise about their money and how they’re intending to face up to the challenge. The first place to start is, of course, with your peers – those who’ve kept growing their wealth over a long period of time are usually going to be a good place to start.
Looking to peers
The best investment strategy is one that’s based on results. For that, traders can look to inspirational figures within the community with a proven track record, and look to their own research strategies. There’s two main ways to do this. The first is through stock tip services; that could be something like the Motley Fool, or as an Empire Stock Investor review suggests, something more private and subscription-based. You can also look to legendary investors from the local scene. Forbes highlights the success of PA based trader Jeff Yass and notes how his stock market strategies and formula can be applied elsewhere. This is especially important in weathering a stock market crash, as it can help you to identify your strongest stocks.
The industries that continue to fare well despite stock market crashes are those ones that will have no option but to continue, or will benefit from the economic downturn. The Balance highlights four areas specifically: financials, which will see growth from increased debt; defense, which will see continued growth despite any recession; and health care, which is an always in-demand industry that will, through government impetus or otherwise, continue to grow. Several dozen military contractors call Philadelphia home, many involved in high-tech sections, and so that’s cause for a little bit of optimism.
Looking for opportunities
While the market is volatile, it’s a good time to look for low-priced opportunities. The Inquirer outlines how Yass’ Susquehanna firm invested early in TikTok and now are set to make huge gains. These sorts of small-size technology investments often rack up huge benefits further down the line and are a fantastic way for businesses to diversify their portfolio and, ultimately, increase their resilience to downturns and crashes. Building a diverse portfolio is key to resisting the effects of stock market downturns and in an exchange as changeable as Philadelphia’s, that’s something to rely on in the coming months.
While NASDAQ might experience yet more dips this year, that doesn’t mean your portfolio has to go with it. Through targeting small investments, and having one eye on what the experts are doing, you can keep your portfolio propelling upwards and keep making gains. Diversification is key, just as the Philly market has always preached throughout its long history.