I was browsing my photo album over lunch today and came across this gem:
On that day, it was the single worst trading day since 1987. Now compare that to the stock market today:
If there was an argument to be made here, it’s that in the long run, most things are usually not as bad as it seems. And vice versa. The human mind and body are quite flexible and can tolerate quite a bit of stress. It helps to keep a long-term mindset to ensure one is mentally and physically healthy. Just like working out one day doesn’t make you an Olympic athlete, but sustained training over a long period of time, will get you darn close.
It’s also tough to bet against America 🇺🇸. As a junior corporate worker in 2008, I applied for the CFA scholarship, which would cover the cost of taking the Level 1 exam, and mentioned in the essay that I don’t believe recessions will last forever and now is the best time to improve one’s skills.