(image credit - CFJC Today)

By Michael Reeve

LIBERATION DAY EFFECTS

‘Wait until after the storm clears’; amid market volatility, Kamloops investors urged to stay the course

Apr 8, 2025 | 4:28 PM

KAMLOOPS — After three consecutive trading days with major markets around the globe falling in the aftermath of president Donald Trump’s ‘Liberation Day,’ things began to level out on Tuesday (April 8). That, however, was prior to news of 104 per cent tariffs on China, leading to a later afternoon slump.

Wall Street may have avoided bear market territory in the wake of Liberation Day, but those living off stock portfolios for security in retirement were negatively affected nonetheless.

CFJC Today gathered reaction to the market volatility from Kamloops residents.

“[We] just have to be patient. We have ups and downs over a period of time — it’s no different now. I know it’s going to turn around — but how long? It could be two years. It could be one year,” said Ken Samborsky.

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“It’s either going to up or it’s going to go down. Long term, it’s going up, so you might as well be stable and leave your money there and cross your fingers. We are all going to be in the boat if there is no money,” added John Grass.

The market uncertainty adds another level of concern for seniors who are already struggling with the rising cost of everyday items, from groceries to rent.

“Half of seniors in British Columbia are living on $34,000 a year. That is the median point. A quarter of seniors are living on $23,000 a year — so under $2,000 per month,” said BC Seniors Advocate Dan Levitt. “Affordability is the number one concern that they have. Seniors are faced with expenses that younger people don’t necessarily face.”

While nerves are undoubtably frayed, it’s best to ride the wave, according to Kamloops investment advisor Mark Bertoli.

“There have been a lot studies showing that when people panic and they miss only a few days of the recovery, it can hurt them for a long period of time,” Bertoli told CFJC News. “Since the 1930s, the best strategy is to stay invested, wait until after the storm clears and then decide what you are going to do with your portfolio.”

The best tactic is to diversify into less speculative options and other asset classes, according to Bertoli.

“But when this passes, make sure you have assets you can draw on for sixth months, a year, two years — depending on your comfort level — that are non-market correlated, that don’t go up and down with the markets,” said Bertoli.

That message of calm seemingly resonating with those in the Tournament Capital.

“My pension, as far as I know, is still good. But I got some stock, which is dropping like everybody’s, of course, so all you can do is wait it out. Hopefully, it comes back,” said Ken Knox.

With promised 104 per cent tariffs on China and blanket tariffs around the globe set to be implemented on Wednesday, it’s anybody’s guess what tomorrow will bring.

“I do not look at it every morning because you will be driving yourself crazy,” said Samborsky.