Monday, August 24, 2015
Keep This In Mind Before You Jump Off The Ledge
Stay calm, don't panic, if you didn't have a plan coming into this carnage then there is nothing you can do now to change what just happened. Stay away from all the fear mongers, or that this is 1987 all over again, etc. In 1987, the market was down 24% in one day, we are down 3.5% as I write this. Stocks returned over 400% in the 80's all people talk about is 1987, hat tip, Ben Carlson.
When you look back at all the previous corrections you can focus on what happened when the correction was occurring, the few painful days/months or what happened years later, don't be short sighted. Take this correction as an opportunity to get a plan together for the future. There are no fool-proof investing plans; you will encounter good times and bad times.
Here are some posts that will help you get through this period;
History Of Crashes
Don't Try To Avoid The Unavoidable
8 Soft Facts About Shorting
"Frank began his career on Wall Street nearly two decades ago. He worked alongside some of the most respected traders on the street. He quickly realized his true talents were in his ability to interpret market technicals as well as behavior. He was a full-service broker until 2011 when he decided that his no-nonsense approach and expertise was better suited as an independent rather than under the reins of the brokerage business. Since his transition, Frank founded Zor Capital LLC and had successfully managed the portfolios of high net worth individuals. Outside of the cliche cookie cutter approach. His achievements and advice have been featured by CNBC, FOX Business, Yahoo Finance, Benzinga, Wall Street Journal, and CNN Money. Frank is widely regarded as an influential trader in the industry."