Australians racing to trade stocks as market volatility ramps up across the globe have been warned they should not be focused on making a quick buck.
Six Park director of business development told News Corp that investors should be focused on long-term strategies as the coronavirus crisis continues.
Richards said purchasing shares in individual companies was “incredibly hard” even for professionals.
He pointed to two ETFs, VGAD (Vanguard) and STW.
“These are two, quick, low-cost ways people can get a diversified portfolio and that’s important because of the volatility we’re seeing day-to-day,” he said.
While conventional wisdom might generally point to buying blue-chip stocks while markets were down, he said there were quite a few that looked risky.
“A lot of companies are being significantly affected and you need to mitigate risks where you can,” he said.
This article also features commentary from Stake and Investsmart.