How to stay calm during a Market Meltdown
I managed the Great Recession, for the most part, by allowing the storm to pass over me.
I did not make any big decisions. I turned off cable TV. I didn’t tap into the round-the-clock, heartstopping coverage of every twist and turn. I went about my life as normal.
It may not have been the most mature way of dealing with catastrophic financial events, but feeling like a tiny pawn in a wider global economic upheaval was humbling.
Snider adds: “When markets drop, there will always be voices saying, ‘This time is different.’
It is never different: 2008 felt different than anything most people had experienced, but markets had largely recovered by 2013.
Investors that avoided selling in the meltdown saw their portfolios recover.
Investors have to have a proactive game plan for liquidity
Quentin Fottrell MarkeWatch 5 August 2024
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