SUMMIT
Watching the market slide like it has brings back memories of 2008 when every morning I would wake up, pre market would be negative, and the question was how much will the market drop again today. These times can be very unsettling but they also taught me to always hold cash for times like these. Because just like in 2008/2009 the selling eventually ends and those first few weeks when the market rallies things are up 2-3-4x in a hurry. I don’t know what tomorrow will hold or next week, and I’m not implying we are in for a crash like 2008. My gut tells me this will last a few days to a few weeks more, and money will pour back in. But I try to have a fist of cash ready.
Getting too negative has always hurt my decision making, so I also enjoy going on vacation during bad times. I find I actually spend less money going on a vacation then sitting in front of my computer making dumb irrational moves. And that is why I’m going on vacation the week of Aug 8th 😉