With the smoke still billowing from Japanese nuclear reactors March 16, Chris Jordan, CEO of Lexco Wealth Management Inc. in White Plains, said, “We are getting calls.”
Jordan was asked to reflect on the Japanese disaster as it was playing out financially.
“The Nikkei has fallen 20 percent and is already pricing this in,” he said. “Japan is getting hammered financially, as one would expect. There”™s going to be a rough run in the short- and mid-term for tech and auto.”
As for the business at the root of the problem: “A situation like this forces a look at nuclear energy; uranium stocks get hammered. But when the rebuilding begins, investments in construction and the like will be smart.”
Lexco was founded in 1999 and, besides New York, now has offices in Connecticut, Massachusetts and South Carolina, employing 26.
Jordan said, “No predictions ”“ when all this is rolled into one, it”™s unclear how big a threat is present. Pay attention, but don”™t panic. The long-term investors with structured portfolios of domestic and international stocks and bonds should be able to ride this out if they keep their eyes open. They have to resist the temptation to do anything drastic.” He contrasted that behavior with the “aggressive, short-term trader,” who buys and sells based upon “the short-term issues that creep up.”
“A lot of times, what we do is reassure people the world is not coming to an end,” he said.
”“ Bill Fallon
