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In finance, how important is it to keep up with the economy and stocks?

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Matthew’s Answer

Very important. I would look more into the market as a whole rather than specific stocks. think more big picture and focus on diversification.
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Markissa’s Answer

Hello, it is incredibly important. The economy affects every citizen's way of living and their money so it is good to know what is going so you can prepare for today and the future in an orderly fashion. The economy can and will affect stocks. It can cause the price of the stock to go down or go up, This can cause either a gain or a loss and no one ever wants a loss.
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Anthony’s Answer

Please, note the following on keeping up with the economy and
stocks :-
1. General analysis of the
economy.
2. Favourable marketing and
economic conditions or
otherwise.
3. Consideration of the level of
transparency, faithfulness and
honesty in all financial
transactions.

Best wishes to you.
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Edward’s Answer

Its imperative to keep up to date with the economy and the markets in finance by watching financial news outlets and reading sources like the WSJ and Barrons. These sources will give important information regarding the health of companies, manufacturing reports, the earnings timelines and Federal Reserve meetings which affects the stocks markets and our economy and in turn, individual households.
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Cole’s Answer

Keeping up to date with the markets and understanding how macro factors impact the economy is essential for having a role in finance. Coming from a role as a financial advisor, it is required to understand what is going on in the economy to be able to relay that information to clients to help them understand how it will impact their own situation.
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Vincent’s Answer

Hi Lily,

I feel that the degree you keep up with the markets are dependent on the type of role you work within. As a former financial advisor, I would be reading market news on a daily basis. While it's important to have a solid foundation about market trends and the industry, it's not as much as someone working within investment analysis. More of the role requires relationship building and communication skills. I have had a strong interest in the markets from early on and is one of the reasons I went into wealth management, but I also had the desire to help people. If you are working within investment banking, you will need to have a further understanding about markets and economic trends. Whether you work in finance or another field, I believe it is important to have a general understanding of market concepts and the economy. I don't believe you need to have a strong knowledge of individual stocks unless you are working in a more specialized field or have the desire to do so. There are plenty of investment analysts that complete this research and put it into a digestible format for investors/professionals to comprehend.
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Daniel’s Answer

If your career is in the financial industry, it is very important to have a general understanding of the economy and how it affects, stocks, bonds, mutual funds, ETFs and specific market sectors. If you are a short term investor, it is even more important as many try to time the market for an opportunist trade. If you are a long term investor, still important but not as much as you have a long term strategy that should not change based on market volatility.

DS
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Evan’s Answer

I think its really important to keep up with the stock market regardless of your field - its always important to know your competition, understand the factors that contribute to results and understand what the investor community cares about. It also helps you understand the health of your company.
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James’s Answer

Very important. In general, you should have a good understanding about the economics in the sector that you are working in. The best way to stay informed is with research and due diligence. Reading content from The Wall Street Journal, The Economist, and Nasdaq are all great ways to help develop an understanding of domestic and international economics and stock markets.
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Ryan’s Answer

In Finance, it is extremely important to keep up to date with markets and economies.

Information moves very quickly nowadays. Clients are reading the news and staying up to date on social media (weather the information is correct or not). Knowing the information is table stakes.

If you are client facing, being able to articulate your views on the market to clients is equally if not more important in my opinion.
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