Amid economic volatility, young investors should continue to be disciplined by sticking to their investment plan and remaining in the market, according to the co-founder and chief executive officer of Wealthsimple Inc.
The current economic situation marks the first major drawdown that many new investors have experienced, Mike Katchen, said in an interview with BNN Bloomberg Wednesday.
Millions of individuals have begun investing for the first time over the last few years, according to Katchen, driven by an interest in meme stocks in many instances, as well as an “overall demand for investing.” “People are generally not pulling money out of the market. They're staying disciplined about their investment strategy and plan. Though we are definitely seeing a bias for cash and safer investments, more so than the last number of years,” he said.
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