Staircase Up, Elevator Down!

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!

Remember…don’t panic!

 

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