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It's All Greek to Me

News

You may have seen recent headlines out of Greece and wondered what the impact, if any, could be on your own investment landscape. We wanted to provide a brief update on the situation from our perspective at Halpern Financial.

Markets have been reacting to all kinds of bad news out of Greece this week, but it’s not exactly “news” if you remember that Greece has struggled with debt ever since it entered the Eurozone.

But this week’s events look like they may be the clincher to years of Greece avoiding creditors’ calls. As the Tuesday deadline for the country’s €1.7 billion debt payment loomed, Greek stock exchanges and banks closed to prevent a panic, and citizens found themselves limited to bank withdrawals of just 60 euros per day. Domestic and international stock markets dropped in reaction Monday, giving market timers heart palpitations, but on Tuesday international markets fell slightly while domestic stocks traded slightly to the positive.

Now that Greece's debt deadline has come and gone, Investors appear to be in “wait-and-see” mode. This weekend Greek citizens will vote on whether to accept additional austerity measures in exchange for another debt bailout…or to begin the process of returning to the drachma.

Greek citizens have good reason to be spooked, but the sentiment shouldn’t carry over to long-term investors—even those with international stock exposure. While there is always the possibility of short-term market volatility in reaction to the news, Greece owes its debts to large institutions and other Eurozone countries, making it unlikely that the fundamental reasons for investing in international stocks will change.

We hope that this explanation is useful to you and encourage you to take the long view when it comes to investing. Live in the moment when it comes to your Fourth of July weekend—not when it comes to the ticker tape.

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Halpern Financial, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Halpern Financial, Inc.. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Halpern Financial, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Halpern Financial, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.


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