Canadian Investors are holding steady in the midst of volatility, according to a new poll from CIBC. The poll, taken over a ten day period in which the TSX shed nearly 1000 points,  shows that over half of Canadians are sticking to the buy and hold mentality despite market turbulence, although many indicate that they are having more sleepless nights and the markets plunge and surge alternatively.
“51 per cent of Canadians say they remain calm when their investments are “51 per cent of Canadians say they remain calm when their investments are fluctuating with the market, sticking to a buy and hold philosophy .Another 29 per cent say they "worry a little" about their investments, and check their portfolios more often but don't make immediate changes to their investments .11 per cent of Canadians said they worry enough to make either minor adjustments or major changes in their portfolio,” the report said.
"These poll findings confirm that many Canadians are willing to manage through short term market fluctuations knowing they have a longer term goal in mind," said Christina Kramer, Executive Vice-President, Retail Distribution and Channel Strategy, CIBC. "While there are a number of investors who keep a closer eye on their investments in volatile markets, most Canadians do not make quick decisions about their investments during short term market declines."
The poll found too, that although most Canadians indicate that they are investing for the “long term”, goals do vary based on investor age, which makes sense, as time horizons vary widely between age groups.
"There's a natural progression as Canadians move towards retirement to rebalance their investments based on their need to draw on those investments as part of their retirement income," added Ms. Kramer.
One of the best ways to navigate these pitfalls, and to perhaps curb some of those sleepless nights, is to make sure that your investments are still in line with your stated investment goals.  Strategy is one way to endure volatility. Also, it helps to have back up and support when trying to weather a storm.
"One of the benefits of having mapped out an investing strategy with an advisor is that you have a strong sense of direction over the long term, which better positions you to manage through short term volatility," added Ms. Kramer. "Working with an advisor also gives you a third party to consult if you have concerns about the current market environment and to gain some perspective on your progress towards your long term goals."