Dayton Business Journal
Investing advice: No need to panic
by Olivia Barrow
Tuesday, October 23, 2012 

Weak third quarter earnings reports and uncertainty caused by the upcoming election are weighing down the stock market, but there’s no reason to panic, a local investment expert says. 

The Dow Jones Industrial Average was down by as much as 232.8 points Tuesday in mid-afternoon trading, falling 1.74 percent to 13,113.09. Some big stocks that were down in the early afternoon included Citigroup Inc., down 2.4 percent; General Motors, down 2.5 percent; and Exxon Mobil Corp., down 2.1 percent. 

The Dayton Business Journal asked Tom Mangan, senior vice president of Beavercreek-based James Investment Research Inc, what is causing the sell off and how investors in Dayton should respond. 

Q: What’s behind the drop in the stock market? 

A: Most likely it is broad-based fears on the part of individual investors about the fiscal cliff. No one has high regard for our Congress, apparently. In fact, I haven’t found anyone who does, and they’re all afraid that the ridiculous will happen, or that we’ll get so perilously close to that, that it would be so frightening that the stock market could not advance, therefore I should take my chips off the table. The stock market was up year-to-date, so a correction in those prices is not surprising… 

Read the rest of the article at Dayton Business Journal