Brace for up to five years of pain
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Quoting John Maynard Keynes, JM Financial’s Harry Cator said “The markets can stay irrational longer than you can stay solvent”. However Cator, who is also a Director at Reach Foundation, believes organisations that take action now, adapt to the environment and are willing to make changes, particularly in reducing operating costs and prioritising services, will do better than those who don’t make adjustment.
Hugh Hodges, Chief Investment Officer, ANZ Trustees, warned delegates that the current crisis will impact on most sources of their income. The key he said was to work out your key needs and communicate them to your financial planner, or fund manager. “Plan strategically for your needs and how to live within your means – not just today, but in future.”
