CNBC Interviews Michael Wagner About Investment Mindset Amid Geopolitical Issues in Russia and Ukraine
When the U.S. announced harsh economic sanctions on Russia for its invasion of Ukraine, the effects were felt quite immediately in the stock market, as we saw steep declines and volatility before stock indexes rose on Thursday. CNBC turned to Michael Wagner, co-founder of Omnia Family Wealth, for his advice to investors.
“Unfortunately, we have more experience with geopolitical issues like you see with Ukraine,” Wagner told CNBC, pointing to events like the Iraq War and Russia’s annexation of Crimea.
Although the volatility may be alarming in the short-term, the stock market has a history of buoyancy. Wagner encourages investors to stay focused on the big picture. “Thirty years from now, are you going to be reviewing your portfolio and really thinking about how we did in February 2022?” asks Wagner.
Wagner added that at the end of the day, the value of your portfolio is not real or official until you hit the sell button. He told CNBC, “They’re intentionally called unrealized gains and losses. It just goes back to that point of having perspective.”
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