Know When to Hold Them

Hopefully, things will start to calm down in the next week. And that you are all healthy and maybe getting some spring cleaning done if you are at home.

Here's an excerpt from Seth Godin's blog this morning: "If you're on a crowded plane and one person is freaking out about turbulence, the panic will eventually peter out. If, on the other hand, six people are freaking out, it's entirely possible that it will spread and overtake the rest of the plane. Panic needs multiple nodes to spread....While calm is a damping agent, it's not nearly as effective at spreading itself as panic is."

"When you read the news (or listen, watch), you're not actually becoming well-informed - you're being emotionally exploited." Margo Aaron Her suggestion? Disconnect yourself from the outrage culture. Be judicious in your news sources...who and how much. Avoid social media rants and arguments about politics.

At times like these, I am reminded of the song by Kenny Rogers "The Gambler"-- not that investments are gambling, they are not. I just like the song. You gotta know when to hold them, know when to fold them, know when to walk away, know when to run. ~Kenny Rogers The Gambler

This is not the time to fold, walk, or run away... Investments are not gambling; that's why we call them investments, and we should never let emotion and panic be our guide.

It's so easy to get into scarcity mode, especially when you drive all over town looking for toilet paper only to end up at Home Depot crawling on your knees into the bottom shelf to nab the last 4 rolls of Charmin. Things have changed overnight and it can trigger our fears. The way to move past fears is to come up with a plan. The plan helps us say, "Hey, you've got this."

The hoarding of toilet paper is not the right plan of action. The dude with 72,000 rolls in his garage has a false sense of control in this situation. In any downturn, there is a massive opportunity. The key is to figure out what you can control and where you need to focus your action.

Stay well! Get some sun!

~ Dennis