Financial Heartburn Continues Over 'Brexit'
(CBS) – "Brexit" continues to be blamed for tanking stocks.
CBS 2's Derrick Blakley talks with experts.
There were more glum faces among traders when the DOW Jones dropped almost another 300 points Monday.
Is it time for the bold to jump in?
"It might be an OK time to invest, but you'd better have strong stomach," says Brian Battle of Performance Trust.
He thinks it's too early, with too much still unknown in Europe, for the average retail investor to take the plunge.
"Not only do we not know how it's going to end up, we're still in the middle of trying to figure out what the terms are of trade, tax and regulation," he says.
Jack Ablin from BMO says Brexit may be just an excuse for a correction in a worldwide market that had gotten too expensive overall. On his shopping list are "companies that have strong track record of maintaining and growing their dividend over time," he says.
That includes international oil companies like Chevron. He also likes real-estate investment trusts and commodities.
The watchword from both of these investment veterans is caution. Don't get in unless you have a long-term horizon, say, seven to ten years.