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In the last 4 months, we’ve experienced a fast and furious decline in the market. No one could have foreseen a global epidemic, but we did know that we were long overdue for a market correction.
History can give us greater perspective on how the future is going to take shape.
On February 19 we hit a historical market high, but within 30 days we saw some of the largest single day losses the market has ever encountered. Even then, many investors refused to heed the signs and chose to keep themselves in this highly volatile market.
This reminds me of the fable of the Dog and His Reflection, a story that’s more true now than ever before. What risks do we take when we chase potential market gains despite the clear warning signs? In this episode, I talk about how to avoid financial FOMO and make wise investing decisions when the market is good.
3 Things You’ll Learn In This Episode
The importance of reading the signs
Before the coronavirus correction, we had seen an unusually long bull market, and that should have been the warning sign that something was going to change around March/April 2020.
Why the fear of missing out on a market high can lead to our lowest lows
Don’t just think about missing out on the top end of the market. By taking your gains off the table in time, you also won’t have to experience the bottom.
Why we need to stop and smell the roses
We don’t need to keep chasing the market to the top, we can take the wins we have and get to enjoy them.
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8787 ratings
In the last 4 months, we’ve experienced a fast and furious decline in the market. No one could have foreseen a global epidemic, but we did know that we were long overdue for a market correction.
History can give us greater perspective on how the future is going to take shape.
On February 19 we hit a historical market high, but within 30 days we saw some of the largest single day losses the market has ever encountered. Even then, many investors refused to heed the signs and chose to keep themselves in this highly volatile market.
This reminds me of the fable of the Dog and His Reflection, a story that’s more true now than ever before. What risks do we take when we chase potential market gains despite the clear warning signs? In this episode, I talk about how to avoid financial FOMO and make wise investing decisions when the market is good.
3 Things You’ll Learn In This Episode
The importance of reading the signs
Before the coronavirus correction, we had seen an unusually long bull market, and that should have been the warning sign that something was going to change around March/April 2020.
Why the fear of missing out on a market high can lead to our lowest lows
Don’t just think about missing out on the top end of the market. By taking your gains off the table in time, you also won’t have to experience the bottom.
Why we need to stop and smell the roses
We don’t need to keep chasing the market to the top, we can take the wins we have and get to enjoy them.