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Your Survival Guy’s Tip of the Day: Sell Until You’re Comfortable

May 6, 2020 By E.J. Smith - Your Survival Guy

By ImageFlow @ Shutterstock.com

Coronavirus Infects Stock Market: Part XL

Just when you thought you might get your life back blue state governors continue to go wild.

Yesterday, Rhode Island Gov. Gina Raimondo said she will sign an executive order taking effect Friday, directing anyone in an indoor or outdoor “public place” to wear a cloth face covering. This includes walking your dog, by example, on public roads.

Hmmmm.

How will this be enforced?

Will mask wearing do-gooders shame me for being unmasked?

Live and let live.

There are risks in life the minute you get out of bed.

When businesses finally open, especially restaurants, let’s remember it’s a voluntary transaction. We don’t need government’s thumb in every transaction—thank you.

In Dallas, Shelley Luther, a salon owner, was recently put in jail for a week and fined $7,000 for continuing to run her business. When asked why she did it she responded honestly “I couldn’t feed my family, and my stylists couldn’t feed their families.” Luther had applied for all the loans, but hadn’t received them in time. These are voluntary transactions in America and she was jailed and fined!

Where is the common sense?

Over the past couple of months, you’ve lived through a government-induced shutdown of the economy, a stock market collapse, and now a government-managed reopening.

It may not be business as usual, which is why now is the perfect time to evaluate your risk.

Do you have gold?

Do you have bonds as a counterbalance to keep you in the game?

Remember, to be a successful long-term investor, you need to be able to handle the ups and downs.

Think back to how you felt during this and sell stocks until you’re comfortable.

Too conservative? I’m Your Survival Guy. I know how easy it is for investors to forget about the past.

P.S. I own several of the Henry Survival Rifle AR-7s.

P.P.S. A client sent me this F-18 radio silence, “ziplip”, landing. Pretty cool.

Originally posted on Your Survival Guy. 

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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, 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@yoursurvivalguy.com
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