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Get Off the Investment Roller Coaster: Have a Plan

September 29, 2022 By E.J. Smith

By Jacob Lund @ Shutterstock.com

You know emotions can wreak havoc on investors. Feeling good or bad about investments shouldn’t be a month-to-month roller coaster. But in my conversations with you, I know you’re reading that the so-called experts are calling for more doom and gloom. They’ve been making this call for years now. Even a broken clock is right—you know the phrase.

If You’re Serious, Sign Up for My Email. But Only If You’re Serious.
  • Prices Are Like Adult Kids: You Don’t Have Much Control Over Them

Look, I’m Your Survival Guy, not a meteorologist. Bad stuff happens. Predicting when and where is almost impossible. How bad it really will be is subjective. Sure, there are spaghetti models, but your life isn’t a weather report. It’s hard enough to know what’s happening today, with the truth being a matter of one’s opinion, like the op-ed pages.

  • Sink Your Teeth into These Bond Yields

And I’m not talking about left vs. right here. There are plenty of “experts” on both sides of the political spectrum, many of whom I respect, who’ve been calling for a doomsday event for a while now. They also talk about climate change ad nauseam in letters to investors with a tone that’s often wrong but never in doubt. And we’re going to listen to them?

  • Trying to Reason with Hurricane Season

Action Line: Being a successful investor isn’t about being wrong or right. It’s about having a plan, sticking with it, and making changes accordingly. Predictions are cheap. They can also be expensive lessons to learn. If you need help building a plan, let’s talk.

These prominent commentators missed the financial crisis (names removed on purpose). Be wary of the expert class.

“Although the turmoil in the subprime mortgage market has created severe financial problems for many individuals and families, the implications of these developments for the housing market as a whole are less clear. At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency.”

— March 28, 2007

 

 

“I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.”

— April, 2007

 

 

“The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions. … Derivatives have permitted the unbundling of financial risks.”

— May, 2005

Originally posted on Your Survival Guy. 

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com

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