“But it’s different this time!” I wish I had a dollar for every time I’ve heard this over the years. While it is true that the set of circumstances driving the market are always unique, the end result is almost always the same.
Since becoming a pilot about 6 years ago, I’m often asked about plane crashes. If you are an investor, the odds of enduring a market crash are almost 100%. Just as I have to do when flying, at Foster Group, we plan ahead for a market correction by using sound planning and investing.
Almost everyone has a few of their favorite things. One of my top questions to ask friends and clients is, “What are some of your most treasured memories and keepsakes?”
We often get asked by clients about different ideas they heard from a friend, a new exclusive deal they got invited into, or, most frequently, a specific company or stock that a friend gave them the scoop on. The reality is that a lot of the “great ideas and deals” never amount to any real return, and many end up going to zero.
We live in a world where many people disagree on almost everything. It is easy to get caught up in our own heads, our own fears, or our own biases.
2020 is a year we’ll all remember though in many ways we want to forget it.
