Looks like a fun week coming up. Reminder to keep your wits, and focus on constructive actions like re-reading your investment policy statement, TLH'ing and rebalancing when your balance bands hits. This downward trend can 100% be your friend if you stay out of your own way and allow it to be.
At times like this, it's important to understand your market history: so far, this is a run of the mill correction @ 5.7%, maybe we'll be around 6-7% in a couple days. 10% corrections happen on average every 2 years, and last just a few months on average. WSJ, CNBC and Bloomberg etc will predictably lose their minds once that threshold is met, so anticipate it, and ignore this noise.
If you are are the sort of person who gets jitters, I'd recommend you go read old articles written around prior corrections (WSJ or NY Times archives), so you can condition your brain to see that these are not "novel" events which warrant any emotional reaction, much less any portfolio changes.
PSA over.
At times like this, it's important to understand your market history: so far, this is a run of the mill correction @ 5.7%, maybe we'll be around 6-7% in a couple days. 10% corrections happen on average every 2 years, and last just a few months on average. WSJ, CNBC and Bloomberg etc will predictably lose their minds once that threshold is met, so anticipate it, and ignore this noise.
If you are are the sort of person who gets jitters, I'd recommend you go read old articles written around prior corrections (WSJ or NY Times archives), so you can condition your brain to see that these are not "novel" events which warrant any emotional reaction, much less any portfolio changes.
PSA over.
Statistics: Posted by mrspock — Sun Aug 04, 2024 11:55 pm — Replies 1 — Views 341