After his presentation at the Windamere Event Venue, Hagedorn was asked what impact investors may see in the stock market based on the world events.
He said these type of military actions traditionally receive “a really emotional kind of response” from investors.
But, as he likes to say, “Events come and go. Cycles are forever.”
He said the cycle is influenced by and rooted back to the fundamentals.
“We only care about the event to the extent that it influences the cycle itself,” he said. “These events don’t change the pre-established trends within a cycle.”
Those trends, he said, include that inflation is “entrenched” and growth is likely to “moderate.”
Hagedorn said investors should step back and consider two things: Have the events changed your long-term financial goals and can you accept the volatility in the market.
“Short-term volatility is the price you pay for long-term returns,” he said. “Now is not the time to panic. You don’t want to pull the trigger and do something emotional.”
On Friday, stocks extended gains as traders eyed the latest developments in Russia’s invasion of Ukraine and the world’s response.
The S&P 500 advanced more than 1.6%, rising further after a 1.5% jump on Thursday. The Dow and Nasdaq also built on Thursday’s gains to add more than 1% on Friday.
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