Making money in a bull market is not a difficult thing. Knowing what to do when the direction turns is what separates the wheat from the chaff. Markets have indeed turned over and the long-awaited correction seems to be in place. So what should one do? What are we doing? First things first: never panic….
A few years back I was playing golf with my minister. We teed off on the first hole and his drive went straight down the middle, while mine went to the right in long rough and behind a tree. I chopped my ball out of the rough and short of the green, while he hit…
“Sell in May and go away.” That used to be the motto on Wall Street – just cash in and go on vacation for the summer. Of course that is not the best long-term retirement strategy, and for taxable accounts that could increase the tax bill quite a bit. But there is something strange in…
There is nothing more frustrating in our automated world than dealing with a computer system issue. You are working away then all of a sudden, nothing. You reboot because you know that is what the IT people will tell you. Then you get the blue screen of death and call IT. “Have you tried rebooting?” Yes. “Are you sure it is plugged in?” Yes. “Okay I’ll be right there.” He comes, he reboots and it works again. “I swear I did that,” you say. “Sure you did,” he says as he walks away.
“Nip it in the bud!” That is what Grandma would have said. If one wishes to put an end to certain behavior, then she had better make that clear as soon as possible. If one allows small transgressions, then slowly over time the transgressions will grow and grow until all authority to stop any transgression is depleted.
