Here’s an easy way to lose money quickly in the stock market

People who follow the markets remember the morning of August 24 well. The Dow fell by more than 1,000 points at the open, numerous stocks were halted altogether after falling more than their allowed limit, and chaos was more or less breaking out across the universe of global financial assets. When all was said and done, the Dow lost 588 points, the S&P 500 has collapsed into a correction, and the mood in markets seemed to have turned on a dime. But if you didn’t sell in that first hour of trading, you escaped the worst of it. If you did, well, that’s not good. From The Wall Street Journal: On the evening of Sunday, Aug. 23, a client called Steven Podnos, chief executive of investment adviser Wealth Care LLC, and told him to sell all her stocks. Mr. Podnos, whose firm oversees $250 million for about 120 families in Merritt Island, Fla., persuaded her to hang on to the bulk of her investments, but agreed to sell a handful of exchange-traded funds, or ETFs, investments that act like a mutual fund but trade on exchanges like a stock. He placed the orders early Monday, Aug. 24, worried in part… Read full this story

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