If You Are an Investor Read This Now! — Dick Young
Coronavirus Infects Stock Market: Part III
Stocks have lost close to 2,000 points over the last two days. Futures are up a little this morning as I write to you but that doesn’t mean anything really, which reminds me, the less you dwell on the future the better off you tend to be as an investor.
Remember, the pain you feel from losing money far outweighs the fleeting feeling of gains—mainly because you get used to the gains—you become comfortable with your net worth.
That’s a mistake.
Much of my time working with successful Americans like you is spent talking about their lives, specifically, where they are in it.
Yes, we’ve been talking about the coronavirus, but there’s no panic selling with my clients. We’ve spent too much time preparing for times like these.
Panic wasn’t in the voices of clients I spoke with while in their car after a nice visit with friends over the weekend. We talked about how she will be celebrating her 70th birthday next weekend by throwing a Great Gatsby themed party.
Another client told me about a neat special he watched on the Newport Folk Festival which began literally across the street from my office.
Another client was about the go into the operating room, getting back to work, after a week in snowy Montana.
A prospect told me he and his dad used to bond over talks about Young’s World Money Forecast over forty years ago. He’s ready to become a client to make sure his spouse is with a firm he’s known for much of his adult life, which was spent working in the Navy’s emergency room.
Another was heading home after fulfilling orders at Target. He’s been retired from his “real” job for years and will turn 60 this year. He likes the work. It helps him stay busy and supplements his income. He lives less than a mile from the store, gets up at 4:30 am, works from 5 am-1 pm and sounded plenty happy to me—that’s a pretty nice commute in California.
I could go on and on about conversations like these, all in a typical day this week. I know my clients. I know what they’re looking for from their portfolios.
No one knows how the coronavirus will impact stocks in the future.
The key for you is to focus on why you’re invested the way that you are—where it allows you to get on with your day—and perhaps stock up on some food and water.
Just don’t panic.
Read Part I and Part II of Coronavirus Infects Stock Market.
Originally posted on Your Survival Guy.
E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.
E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.
Please get in touch with E.J. at ejsmith@youngresearch.com.
Sign up here to receive all the best content from Richardcyoung.com each week.
- Coronavirus Infects Stock Market: Part XIX - March 26, 2020
- Coronavirus Infects Stock Market: Part XVIII - March 25, 2020
- You Must Protect Your Business: Looters Hit Walgreens in San Francisco - March 25, 2020
