A leading investment advisor says that now is the time to invest during the downturn in the global economy.
Philip Dorsett, the investment advisor at Royal Fidelity told the Bahama Journal in a recent interview that now is an excellent time to invest because everything is presently so undervalued.
"You definitely have a biased market so I would encourage persons to invest in strong principles right now," he said. "There is a downturn now but if you invest now with small dollars, when there is that upswing and your dollars will multiply so invest now and invest smart."
Mr. Dorsett gave his views during the launch of a new partnership between the Royal Bank of Canada and Royal Fidelity.
Royal Fidelity now has a kiosk in the main branch at RBC downtown enabling clients to engage in more financial services while doing their normal retail banking.
"Even though we moved in the branch four months ago, the partnership itself materialized in 2007 and things were going good in the economy back then but with regards to the downturn in the economy what has been happening is that I have found that most of the clients that I speak with are very thankful that they get to speak with an investment professional about what is going on in the economy," Mr. Dorsett said.
"Persons have a lot of questions about what is going on but they don’t know who to ask so now you can come to the Royal Bank of Canada and ask me. It is very powerful to have someone in a branch to explain to the general public what exactly is happening in the global world and tell them where and how to spend their money."
Minister of State for Zhivargo Laing recently said that there is still an interest in investing in The Bahamas, despite an economic slowdown.
"Our policy provisions have not changed and we over the last ten years were improving all of these projects so there is an interest in investing in The Bahamas and that hadn’t stopped," he said.
"The people who had put some things on the table kept them on the table. People who put new things on the table got their approvals and so there is still an interest in investing in The Bahamas."
