MoneyMagpie

Oct 16

How safe are your savings as the stock market crashes?

It’s safe to say that this has been a rough time for the stock market. Over £46 billion was wiped off the UK stock market yesterday, one of the biggest one-day slides in almost four years.

Since the 1st October the FTSE 100 has dropped 6%, and is down 10% from September 4th.

There’s a variety of reasons for the current stock market turmoil, not least concerns that the Eurozone could slip back into recession. The instability of the Greek government is causing share prices in Greece to drop to their lowest level since 2014, as well as Germany reducing growth forecasts.

On top of that the Ebola crisis is making investors nervous as potential travel bans could have a big impact on consumer behaviour. Even America’s economy is looking less healthy, with retail sales falling in September –  the first fall in seven months.

Subscribers to Saltydog Investor, however, will have escaped unscathed from this economic slump. Saltydog Investor advise their subscribers every week on how best to invest.

On October 1st Richard Webb, Managing Director of Saltydog, sent out an email advising their subscribers to sell all their stock holdings apart from two property funds.

They said that the move might seem drastic, but 20 out of the 25 negative sectors they look at had seen negative returns over the last four weeks so they believed these should be sold.

Webb says that this advice will have saved subscribers from the current situation, and the two property funds that Saltydog said their subscribers should hold on to are both continuing to grow.

To find out more about Saltydog Investor read about their origins here, and if you’re interested in becoming a subscriber then visit their site – http://www.saltydoginvestor.com/ 

 

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