Panic On The Street
By Jim Bauer
@porwest (91092)
United States
December 24, 2018 1:15pm CST
There is panic on the street. Wall Street that is.
If anyone has been paying attention the markets are just in a bit of a freefall of late. There are a variety of reasons for this, none of which I will go into here. But one thing is certain...
This is not the end of the world. The markets will eventually go back up and then some.
The thing is that people panic when the market does this sort of thing. People tend to forget that we have been to this very place many, many times in the past. Markets go up, and yes, they go down. When they go down it hurts in the short term, on paper I have lost thousands and thousands of dollars, but it's on paper, which essentially means I have not really lost anything unless I have sold at the dipping prices.
Now is the time to hold onto your britches and buy, buy, buy.
Now, you don't just buy anything. You still have to know who is actually making money, who's financials and fundamentals are strong, and who will be able to maintain their dividends through the muck—
But this is an opportunity. It sucks in the short term. But every time this has happened I have made tons more than I ever "lost" on paper.
This too shall pass...
8 people like this
8 responses
@andriaperry (116936)
• Anniston, Alabama
24 Dec 18
I do understand this, I just wished I had some to invest this time around.
Still makes me freak a little, even knowing this will pass too.
2 people like this
@porwest (91092)
• United States
24 Dec 18
I started diverting some investments to cash a while back, something I usually do anyway when we have extended runups in the markets like we have had. Helps to preserve capital, but also have some handy to buy when the market provides an opportunity. But yes. It's still freaky in the short term even though I know we have been here before, and it always looks bad DURING the time, but not after.
1 person likes this
@allknowing (136601)
• India
24 Dec 18
One has to be at it watching it as anything can result in fluctuations including what Trump said and did not say. That is how silly it is sometimes.
1 person likes this
@porwest (91092)
• United States
30 Dec 18
@rebelann It is like anything in life. In order to be good at it you have to take the time to learn. How does anyone get good at their job? How does anyone figure out what health insurance plan is right? How does anyone learn how to cook a dinner, drive a car, book a trip, claim welfare benefits or food stamps, apply for social security, or whatever else? You do the research and you learn and you make decisions based on that. It amazes me that so many people can learn to do so many things EXCEPT deal with their money. It boggles my mind really since so many people value money and yet it is the one thing people just go dumb on.
1 person likes this
@porwest (91092)
• United States
26 Dec 18
The markets are really not all that complicated. From time to time I will write about certain aspects of it. Many people are living paycheck to paycheck precisely because they have no idea about the markets, how money actually works, and how to actually make money in this world. NOTHING I hold against anyone. But part of the problem is people think a paycheck is where money is actually made. Over time, paychecks are just one source of income among many when you do it right. I have always said, those who rely on a paycheck to get ahead...will never actually ever get ahead.
1 person likes this
