By Staff
POISED TO RECOVER Stacey L. Wall, president and CEO of Pinnacle Trust Company, speaks during an economic forecast luncheon sponsored Friday by Community Bank Meridian. Wall, whose firm is a leader in investment management and trust services, told about 200 attendees there is light at the end of the recession. Photo by Paula Merritt / The Meridian Star
By Steve Gillespie/staff writer
Feb. 16, 2002
There is light at the end of the recession.
That was the message delivered Friday by economist and investment adviser Stacey L. Wall, president and CEO of Pinnacle Trust Company. Wall spoke during an economic forecast luncheon sponsored by Community Bank Meridian.
On the local level, Wall said Mississippi doesn't have the type of economy that booms when other parts of the country, like California or the Northeast, experience economic upswings.
Wall's presentation was accented with computer generated images that illustrated his topics. He began with an overview of the Sept. 11 terrorist attacks and how it affected the economy.
He said all indications suggest that the Federal Reserve is finished with interest rate reductions.
Wall also thinks inflation will remain low this year, probably less than 2 percent, he said.
Wall also warned of three of the most common mistakes investors make:
trying to time the market, because while those who come in and out of the market will miss some bad months, they will miss good months as well;
chasing returns, or investing in a stock or mutual fund after it has had a big move, instead of before; and,
not diversifying enough.
Chuck Nicholson, president of Community Bank Meridian, said he wanted to introduce Wall and Pinnacle Trust to the community and shed some light on what the economy will be like for this year and beyond.
The bank has partnered with Pinnacle Trust Co., founded by Wall in 1997, for those types of services.