| When the World Went Crazy |
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If you have an eye on the market or an ear to the news you are aware of the supreme beat down the market has been taking over the past several weeks and especially this past week. I have been trying to stay rational and not lose my head when all those around me are losing theirs. These are definitely tough times we are in and it may be awhile before we get out, but I am confident that we will get out. Trust me there will be bumps and bruises along the way, okay maybe even some lacerations and third degree burns but things will get better. At least I hope. With that being said here are some tips to maintain your cool.
Ignore the news: Remember that journalism is BIG business. While their job is to report the news, everybody knows that “If it bleeds, it leads”. Negativity and scary headlines get people to pay attention to the news.
Re examine your investment goals: If you have a long time frame for your investment then sit back and chillax. The dent your retirement account is taking now is only temporary; there is no need to change up your investment allocation. Time is on your side.
If you have a shorter time frame, then it’s time to maybe make some changes if you have an aggressive Portfolio. Any money you plan on using in the next three years should be in lower risk investments like Short-term government bond funds, Money Market accounts or Certificate’s of Deposit.
Investing is Fun-da-MENTAL: You have to use your head folks. Be smart when you are looking at your Portfolio or other investment opportunities. Ask yourself. Do I understand what this business does? Do people buy their products? Does their management team have a good track record? If you can’t answer the basic questions, stay away!
Sean Carter said, “Men Lie, Women Lie, numbers don’t”. Check the financials of every company or fund you are looking at and compare them to the industry averages. Get to know what ROE, ROI and P/E ratio mean.
Don’t follow the masses: Sometimes you have to embrace your inner contrarian. Chances are when a stock or fund has made the news because of its outstanding return, the bottom is about to fall out. Being fashionably late to a high flying stock or fund does not make you cool, it makes you broke. Don’t be that person. Instead be early to the party that seems to be lame. For example keep an eye on companies in the Financials, Technology and Consumer Discretionary sectors. It may not be time to buy yet, but there will be values to be had for those that are ready.
As always, if you have any questions or feedback hit us up at
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