In any case, this should not be a reason for investors to ‘press the sell button in a panic’, nor to go shopping on the stock exchange, believes the investment expert. “There is a lot of uncertainty. Not only about the course of the war itself, but also about the sanctions and the reactions to them. And what if the European economy is seriously slowing down, what will the central banks do? And how will the additional burden of even higher gas prices affect consumers and businesses?”
less optimistic
All that uncertainty didn’t come until this week, of course. ING’s Investor Barometer, a survey of private investor sentiment taken before the Russian attack, shows 107 points this month. Well below the 115 points of January, but the optimists still have the upper hand. The biggest threat to the stock market, according to 39% of respondents earlier this month: the tensions in Ukraine.
“The shock reaction to the war is understandable, and also quite intense, but not gigantic,” says Wiersma. “The world of investors has not collapsed, but that does offer some guidance.”
Cheaper
The stock markets were already falling due to inflation. “And because corporate earnings have risen at the same time, stocks have become a bit cheaper than they already were, if you look at the P/E ratio.”
And if the prices then rebound – “also because the relaxation of the corona measures has had an effect”, Wiersma says – keep your portfolio broad. “Some stocks have been punished too hard, but don’t pick just one fund. See if there is a peer in another region from which you can also buy shares.”