A good time to remain calm .
This has all happened before and over time the selling always stops and the markets always recover .
I see some nice buying opportunities , but I also know that over time , doing nothing pays off too .
Best to all ,
Frank
Reminds me of a story with a brilliant doc I once worked with.
Had a patient having a heart attack in front of me. Patient talking, then all of a sudden stops talking. Apparently that is what happens shortly after you go into Vfib.
We all sort of pause and our eyes get wide. The doc I was with that day, cool and calm, says “shock him”. Didn’t raise his voice, it might as well have been a whisper.
Patient goes back into a normal rhythm, and off to the cath lab they went.
We walk out of the room- this was me about two years out of school- and the doc turns to me and says, “don’t just stand there, hurry up and do nothing.”
The doc used to always sit back and take in the situation and say few words. Never overreacted, always calm. I have tried like hell to take on this persona in many facets of life since working with said doc. Its much easier to think about “the next step” when you’re not caught in the moment. Ten years later,I preach this to my colleagues as they gain experience.
So friends. Don’t just stand there, hurry up and do nothing, but be aware of what the next steps may be if the opportunity arises. Likewise, invest in solid companies and they’ll weather the storm.
Cheers.
(And Dr Johnson, if you happen to be out there, thank you.)