An Eastern Kentucky University finance professor believes it could be another month before the dust settles on Wall Street.
Major declines in stocks this week are being partially attributed to economic woes in China. EKU’s Zek Eses says the drops are significant, but probably not to the degree of the fall several years ago. “Media tends to hype big moves in the stock market, but this one is not about hype,” Eses says. “I don’t think it’s gonna get as bad as it got back in 2008, 2009.”
Eses thinks there could be another 10 to 20 percent decline in the stock market. The Eastern Kentucky University finance professor says now is not the best time for first time investors to enter the stock market. Eses says buying individual stocks day to day is not advisable for most people. “Success in investment is all about enter and exit points,” he explained. “I’m not suggesting that people should do day trading; day trading is a full time job.”
Eses says Kentuckians generally are not as heavily invested in Wall Street as many people in other states, based on Kentucky’s 47th ranking in household income.?
