VESTAL (WBNG) -- It's an unusual time in the stock market with stock prices the highest they've been in two decades and the U.S. economy in a recession.
Binghamton University Assistant Professor of Finance Daniel McKeever told 12 News that makes it risky for those looking to start investing in stocks. With such uncertain times, he said it's best to focus on long-term investments.
"Especially if you're young and you're looking to break into this, you want to be investing with a 30 or 40 year horizon where you're not banking on any particular return over the next six months, year or five years," McKeever explained.
He told 12 News, now is not the time to try and make a quick buck by buying and selling stocks. The more you interfere with your investing strategy, the more fees you'll have to pay. In addition, you're at a higher risk of losing money with that tactic, than if you make long-term investments.
"Over the long run, buying a diversified basket of U.S. companies has been one of the best bets you can make over the history of investing," said McKeever.
He explained it's always best to check with your financial advisior before making any big decisions with your investments.