Good advice. I learned the lesson back in '87. New to the game, I freaked out on Black Monday. Of course you remember the 508 point drop in the Dow. I got out, locking in losses, but then took too long getting back in. Now I am older, wiser, and if truth be told, a tad wider.
Here is an old post of mine from 2008 that stands up well: Some Principles of a Financial Conservative. Agree or disagree, but if you disagree you won't budge me from views only reinforced by my experiences since aught-eight. The main, thing, however, is to think hard, critically, and for yourself.
And another thing.
Don't say that money is the root of all evil. That's just silly. Say something that is true:
The inordinate love of money is the root of some evils.
Point proven in Radix Omnium Malorum.
Recent Comments