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Trying to Catch Falling Stock Prices

South Carolina Business Review logo

The stock market has taken it on the chin with blame going to the coronavirus.  Oil prices also collapsed due to a sudden price war between Russia and Saudia Arabia.  How should an investor react to such immediate, sharp drops in asset prices?  Does the old adage still hold: “Don’t try to catch a falling knife”?

Mike Switzer interviews Chris Cabri, a certified financial planner with Ameriprise Financial Services in Greenwood, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.