Many of the Chapin Davis brokers have lived through many ups and downs in the market. But for 25-year-old Chris Matthai, who celebrates his first anniversary as a broker today, this turmoil is brand new.
His computer screen is filled with dozens of ticker symbols that light up green when the stock rises and red when it drops. After Congress failed to pass the bailout, the screen was virtually all red.
"I was speechless, shaking my head," he said.
Still, Matthai sees a silver lining. He's trying to build his client base beyond family members and friends of relatives.
"Right now, a lot of people are probably upset with their current brokers. It's a great time to prospect," he said.
But even those who have worked through wild markets say this situation is more serious.
"This is the worst I have ever seen," said Brown, 71. "I'm sure it's the closest thing we have seen in my lifetime to something near 1929 or the 1930s."
"They will come to some resolution on this," Brown said, expecting lawmakers to eventually approve a bailout package. And when that happens, uncertainty will leave the market and investors will regain confidence, he said.
