Southridge CEO Stephen Hicks Cautions Investors to Stay Calm in Midst of Greece Crisis and China's Stock Market Crash

Jul 10, 2015, 11:30 ET from Southridge

RIDGEFIELD, Conn., July 10, 2015 /PRNewswire/ -- Stephen Hicks, Founder and CEO of Southridge, a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies, has released a statement cautioning investors against overreacting to recent news on the Greek economy and China's Stock Market slump. Moreover, with the International Monetary Fund lowering its estimate this week for the growth rate of the worldwide economy from 3.5 percent to 3.3 percent for 2015, there's likely to be some upheaval in the financial and investing community.

Hicks says the IMF's decision has less to with the Greek crisis or the Chinese stock market, and mostly to do with the US economy. "The main cause of the decrease hits closer to home. It was the poor economic performance put forth by the United States in the first quarter, attributed mostly to a worse than usual winter. Sometimes rounding up the usual suspects does not net the actual criminal."

He adds that the United States is still the largest economy in the world and the greenback is still the reserve currency for international trade and causes the most waves internationally. The GDP of Greece is de minimus compared to large economies, and China, even with its large population and young populace, is not expected to surpass the United States as the largest economy until 2028, according to the Center for Business and Economic Research.

Hicks adds "In short, the sky is not falling, but there are some bumps ahead. Investors should not overreact."

About Southridge: Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies. Since 1996 the structured finance team has made direct investment of over $1.7b into growth companies globally. Our expertise lies in our ability to customize a financing plan for the prospective client and then execute on that plan without fail. For more information, visit: www.southridge.com

RUBENSTEIN PUBLIC RELATIONS
CONTACT: ANU KHER 212-843-9240
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