One Bad Day Will Not Ruin Your Portfolio
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Okay, my Lord market sell off again mainstream media websites have to go into their little stock photography folders there and find pictures of exacerbated traders with facepalms and issues because the markets went down. I was thinking about asking my son who’s doing some interning with me this summer to
And again, I said, that’s going to be too much for a pain in the ass. But to look up how many times in my 30 year career have I seen market days where the market had moved corrected to the downside, 1 % or more. I mean, there’s certain days that I can remember because there was a news story surrounding it. remember a flash crash comes to mind where they told us it was a fat finger.
that drove the markets down. There’s a bunch of times I do remember. How did it work out in the end?
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Again, everybody bringing out all the pundits. What does this mean? my God, did you see Tesla yesterday? Tesla was down this much. Tesla’s been up what 40, 50 % over the past few months, which is a bit much. Have you seen where these companies have come from? It’s perfectly natural for things to sell off from time to time.
in today’s day and age with high frequency traders and the way that markets can move in various different directions via algorithms. Once something starts going in one direction, it goes in that direction. It does. has, there’s a momentum to it that’s really tough to turn around and stop. And does it really matter?
Does it really matter? Has anything changed with the companies that you own? In your portfolio, have the fundamentals changed based upon the timeframe that you’re looking at? If not, then why would you even think about selling something that you believe in that is going to produce wealth for you over time? If you think that you’re going to be able to participate and make money,
trading against the big firms and the algorithms and the people that really know what’s going on, you’re making a mistake. I’m keyed into this stuff and I happen to be pretty good at it, but I don’t even do it. I don’t have the time. I’m trying to say, I want to sit in front of a computer and start day trading. No.
No, it’s patently absurd to go ahead and do so. When you know the outcome, when you know the outcome, if you follow certain rules of the road, our rules of the road, you know where you’re gonna get, where you want to be, you’re gonna watch yourself build wealth over time. Why wouldn’t you just do
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you’re gonna you think you’re gonna you’re gonna outsmart all this. You think you’ve got a quicker and easier way? Okay, have at it. But let tell you something market sell offs happen. People perfectly happy. be nice to get a nice little 10 % correction at this point in time. Will it happen? I don’t know. And quite frankly, I don’t care. It doesn’t matter. Watchdog on Wall Street.com.
