Adopt a long-term financial strategy to come out on top in this short-term crisis – The National

Adopt a long-term financial strategy to come out on top in this short-term crisis – The National

Adopt a long-term financial strategy to come out on top in this short-term crisis. The world is not going to shrug the coronavirus off without a deep and painful recession.. It was very much the same with commentators after Dubai's experience of the global financial crisis was compounded by a local property downturn.. When the former editor of The Times, Simon Jenkins, wrote a particularly nasty article about Dubai, I wrote to him to protest and explained how the city could and would recover.. With the effects of the global financial crisis still being felt around the world, then, as now, you had to peer beyond what seemed to be an endless crisis and invest for the long-term.. Only last year Mr Buffett's now $128bn heap of cash was being laughed at, while the S&P 500 raced 29 per cent higher.. But investors do not become rich by investing when everybody else thinks it is a good idea.. Last week's bear market rally was likely not the time to buy and rather more of a chance to sell.. Do keep an eye on what Warren Buffett is doing.. Peter Cooper has been writing about Gulf finance for 25 years.