Billionaire investor, Ken Fisher, has advised fellow investors to worry less about events that are widely expected to affect the market.
The CEO of Portland-based money management firm, Fisher Investments, added that all those broadly known fears are already factored into stock market prices, and that investors should channel their time into thinking about their next moves rather than brooding over events they cannot control.
Fisher also indirectly stated that the issue of Greece's presently struggling economy needs not be worried about. He justified this by stating that the markets did not crash back in 2009 when General Motors (GM), which is about the same size as Greece's economy, filed a bankruptcy.
"When General Motors went bankrupt, did the market go through the floor? No, the market blinked. Greece would have about the same impact."
In Fisher's view, a regional crisis, - either geopolitical or economic- does not have much impact on the markets. Only world wars can shake the markets significantly.
So, investors need to disregard the media and market chatter that fly around during 'minor' events. However, he warned investors to be wary of events that are three to 30 months in the future, but not being widely talked about, adding that such events catch the market unawares and cause major upsets.