FYI: Acknowledge, allow and accept. This advice will help you to endure the inevitable pain caused by the next bear market. Experts in the centuries-old practice of meditation have a formula for suffering.
S = P x R. The amount of suffering you experience is equal to the actual Pain (P) times the mind’s Resistance (R) to the pain. So, S = P x R. The idea is to stop resisting the pain to lessen it. Since anything that is multiplied by zero equals zero, you see where this is going.
Regards,
Ted
http://tonyisola.com/2017/06/the-financial-pain-equation/
Comments
People do not live their investment lives over 100 years.
People also don't notice "pain" unless portfolio goes down 20% because they are "told" not to.
Then people start wondering - deers caught in headlights - while their 20% loss turns into 50% loss. Then they sell. And of course, not a single "expert" at that point will stick his neck out and say "don't sell". THEN, after the market returns back to the point where the correction started we get "investors are so stupid".
First, investors need to define their own "success". Don't let someone do it for you.
Second, a "successful" investor is one that does not lose money, as in permanent loss of capital.
All 20 year olds can read this post or they can read the other. Just remember, you do what YOU think is right, else either I or some expert is going to laugh at you in 30 years either way. And I hope one does not need a "Buddha" to explain this.