The coronavirus fears spreading around the world can cause a huge economic impact. On the podcast today, we will catch up with financial expert and #1 Amazon best-selling author John Madison.
“Fears of a spreading coronavirus disrupting the supply chain for goods traded around the world have raised concerns that company profits will suffer. This concern for lost 2020 profits is driving down the price of shares. Standing sell orders have been triggered, leading to more selling and even lower prices. Investors whose portfolio didn’t match their risk tolerance often sell from fear in these times, locking in losses, because the losses are too large for them to accept. This is why it is so important for people to build a portfolio suitable for their own personal needs, not follow the investing advice of a television analyst.”
Madison offers many investing tips in his new book, “The Steward Plan: Understanding God’s Design for your Finances.” Madison combines three decades of experience in financial planning with what he considers the most comprehensive workbook on money-management—the Bible.