"Be more philosophical"

“If you’re not willing to react with equanimity to a market price decline of fifty percent two or three times a century, you’re not fit to be a common shareholder and you deserve the mediocre result you’re going to get compared to the people who do have the temperament, who can be more philosophical about these market fluctuations.”

— Charlie Munger

We’re invested in great companies. We just need to “be more philosophical.”

Stoic, too.

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This is the third large decline since I started following this board, and probably the most stomach churning and painful of them all, as some of the losses were due to my own foolishness/greed and deviating from some of the wisdom of this board. I would add that in addition to being “philosophical”, being generous and giving to to others when the market tanks reminds me that I have enough.

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“If you’re not willing to react with equanimity to a market price decline of fifty percent two or three times a century, you’re not fit to be a common shareholder and you deserve the mediocre result you’re going to get compared to the people who do have the temperament, who can be more philosophical about these market fluctuations.”

— Charlie Munger

Charlie Munger’s quote needs to be adapted for this board.

“If you’re not willing to react with equanimity to a market price decline of fifty percent one or two times a year, you’re not fit to be a common shareholder and you deserve the mediocre result you’re going to get compared to the people who do have the temperament, who can be more philosophical about these market fluctuations.”

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