I posted this (see below) on these forums less than three months ago. As of today, my net worth is even HIGHER than it was on March 1st.
And the best part is I didn't even have ONE sleepless night.
Calming thoughts, maybe
I've been reading these boards for about 15 years, but decided to register an account today just to share a few thoughts on the market.
1. I'm old enough to remember 9/11 and the Great Recession and how they both felt like the end of the world. They weren't the end of the world. And neither is this. It's funny how much calmer I am now, and it's because I've experienced the fall AND the rise several times now - it's a normal rhythm that you must embrace psychologically. It feels terrifying when you watch the market drop seven percent two or three days in a row, but just keep looking at the 100-year Dow Jones chart to reassure yourself that the market has always headed in one direction long-term: up.
2. Every expert was saying we were due for a market correction and/or a recession. So, it finally happened. Okay. You didn't think it would never happen, did you? Markets must have corrections, and economies must have recessions. But they're always temporary. And this one in particular seems so inextricably linked to an externality (the virus) that just think how positively the market will react when the US announces a major drop in cases or a company announces a vaccine.
3. These boards are helpful for information and (sometimes) reassurance, but just remember nobody in this community knows anything more about the future than you do. Don't be influenced by those who post predictions, especially dire ones, with confidence - they have no idea what they're talking about.
That's all for now. Just thought I'd share.