Nils Larson Discusses How the Strategic Diversification of Portfolios will Help the Economy Rebound After the Pandemic
The Covid-19 pandemic has caused many people to reevaluate themselves, their behaviors and how they invest and spend their money. Generally when news outlets report on the economy, they talk about the NASDAQ, Smith and Poors of the DOW, which causes most people to make the assumption that as long as those entities are doing well, the economy is functioning as it should. Nils Larson says that nothing could be farther from the truth.
One of the things that the pandemic made bare was the fragility of the American economy and the ever growing divide between those who are wealthy and those who are not. Before the pandemic, and up until a certain point after the pandemic his people were fairly satisfied with the way things were. As long as Wall Street was happy, so was everyone else. “It is unfortunate that it has taken so long for people to open their eyes to see that Wall Street is not the whole ballgame when it comes to the financial stability of the economy here in the United States.” Nils Larsen said.
According to Mr. Larsen, the people who work hard to purchase homes, automobiles, shop in stores, and go to the movies and restaurants are the ones who are actually the stimulators of the nation's economy. “I believe that the average person living in America sells themselves short. When the nation shut down during the height of the pandemic, merchants everywhere were hit hard. People lost their jobs, their homes, automobiles and there were many businesses that were permanently shuttered.,” Nils Larsen, manager said.
“I am hopeful that people in the United States will gain more exposure to business and financial literacy. Because whether a person is on Wall Street, or they are on Main Street, everyone has to do a better job of understanding that the success of our economy depends on everyone doing their share to keep the country moving in the right direction.”, Larsen said.
In order for there to be a healthy and robust economic recovery in the United States, people will have to be strategic about how they lay out their portfolios. “Look the bottom line is things are going to be tough for a while. People are going to have to learn to appreciate that if people can’t pay their mortgages or their rent, those entities who lend, and those companies who invest in condominium complexes and apartment buildings can’t meet their financial obligations either. Showing the greater masses of people how to diversify their portfolios is paramount to getting the economy back on track.” Nils Larsen said.
According to manager Nils Larsen, people are going to have to make some adjustments in terms of risk tolerance, and they are going to have to change the way they look at their portfolios moving forward. “My advice to people is that they sit down and go over their portfolios with a financial advisor. They need to look at the progress of their portfolios often. When thinking about investing strategically, people should consider investing in products they might have never considered frequently. People may want to consider diversifying their portfolios by investing in infrastructure projects, telehealth, cybersecurity precious metals, automation and robotics.”, Nils Larsen said.
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