If you were anywhere near a TV or a news app in the last 24-hours you couldn’t help but notice the news about the market. The stock market. And if you weren’t and didn’t, good on you. You’re either taking my advice to turn off mainstream media, or you intuitively know the crisis du jour has no lasting impact on your long-term financial goals.
The big fear and uncertainty scaring the market…the coronavirus. I’m not making light of or diminishing the seriousness of the virus. I’m confident the world’s best virologists and epidemiologists are on it.
Just as they did with SARS, bird flu, swine flu, MERS, and Ebola.
This too shall pass.
And no reverse Grandpas in the meantime. You remember Grandpa’s advice. “Sonny Boy, buy low, and sell high. Now get back on that tractor”.
He didn’t say, “listen to the talking heads on the TV and sell low in a panic like everyone else. And then when the coast is clear and the market recovers, buy those same shares you used to own at a higher price.”
Sell low, buy high is the reverse Grandpa and we don’t do that. Market pullbacks are temporary and part of the process of being an investor.
Remember, we’re investors, not traders or speculators. We’re owners of some of the best financed, most profitable, well run companies in America and the world.
Financial media peddles in short-term advice. We’re long-term investors and we don’t succumb to short-term advice. Now get back on your tractor.