'The best trade, at a minimum, is no trade,' UBS senior portfolio manager Katz said.
's Jason Katz said Friday investors should "take a deep breath" and have a moment of introspection over the weekend.
"Reflect on the fact that the markets had a made meaningful move up last year and up until recently, and that corrections are par for the course," the senior portfolio manager said on CNBC's ""Obviously, this week didn't feel normal by any means, but on balance markets correct 10% a year since the early 1900s," added Katz, whoKatz's appearance came on the heels of a tumultuous week for financial markets as investors reacted to growing concerns over the...
declined 11.5% in its worst weekly performance since the crisis and sits about 13% of its all-time high, which was registered just last week.closed flat at 8,567.37 but was at one point down 3.5%. The tech-heavy index posted a weekly loss of 10.5%. The market's declines eased up slightly Friday after a statement from the Federal Reserve in which Chairman Jerome Powell said the central bank will "For many individual investors, Katz said the most appropriate action is little action at all.
"The best trade, at a minimum, is no trade," Katz said. He said patience is paramount over the next two weeks, a reference to theFor investors who are highly liquid or underweight equities in their portfolio, Katz said "you need to consider legging in, which we did today."
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