If you’re like me the last five days have been quite painful. What may have taken several months to build has been wiped out in 4 days.
In the blink of an eye, my account is down 20%.
There’s an old Wall Street adage that goes “staircase up, elevator down”. In other words, stocks go down a hell of a lot faster than they go up. Always have and always will.
If you follow us here at Wealthy Joe, you know that we are long-term investors, and we don’t panic. Panicking is a surefire way to lose money.
At this time, if you have some cash, start lining up the names of companies that you were waiting on to get cheaper. Then…start buying! I know sell-offs can be scary. But that’s when you have to do it!
* The Stock Market is For Everyone, Eric Milton’s short guide to stock market investing for beginners, is available in e-book and paperback formats. If you like what you see on this blog, we hope you’ll take a moment to purchase and read the book, let us know what you think via a blog comment or Amazon review, and share this information with others! Thank you. *