Not a surprise for the attentive readers as I dropped hints here and there, but in case you did miss it, I'll proclaim it in big bold letters: I and my wife are expecting a little one next year!
Last Updated on April 11, 2020 by Mr. FightToFIRE
Until a couple of weeks ago, the markets stayed unphased by the ever-expanding coronacrisis. Forward three weeks and the markets caught a serious fever. You got to wonder: with steep a decline as we saw these past two weeks, is it time to go in a bit more and “buy the dip” during this coronavirus crisis and are we heading for recession version 2020?
Like always in these precarious times, there are two strong reactions among investors like you and me: some can’t wait to buy, others are more than happy to sell while they still have some green. As you could have read, I’m in the first camp. But as the weeks pass by, it’s clear I need to take a step back. I took a deep breath and for now, wait. Using the following 5 tips I try to stay calm and sweat out this coronavirus crisis.
5 tips to stay on course
While a decline in the market is sensible right now, it’ll reach an overextended phase where most investors will taste despair. Then we will be for sure in a recession. How long it’ll take before we reach the depths of this despair is uncertain.
What is certain, or at least based on past experiences, is that crises, like this coronavirus crisis, were buying opportunities. Without further ado, here are 5 virus-free tips that can help you see the opportunity this bear market provides.
Besides the above tips you might already know, I’d like to give a few ideas or suggestions where you can look if you want to invest in a specific sector tracker or need inspiration for some specific stock.
Sweat it out
I hope these suggestions cal help you sweat out this coronavirus crisis and a possible recession. Any future prognosis is like reading tea leaves: maybe fun to pass the time but not worth betting your future (cash) on. Stay calm and stick to your plan.
Remember: this too shall pass. It might pass like a kidney stone, but it will pass.