The DOW is starting with 1o thousand again and is at 10,850 at 10:00 AM on Tuesday July 15th when it was at 11,200 at 10:00 AM on Monday July 14th - a 350 point decline.
I am sure there are some who are wondering when this despair will end. When the bottom is finally reached. When recovering begins. Me too? I have no answers. No one does. Sorry.
I have no answers except "Ice Cream". Not: "I Scream". You see, when ice cream goes on sale for half-price or even just a 23% discount (like the DOW is right now) the freezer usually gets stocked with more (unless you really are being careful with the weight issues).
If you buy more when stocks are on sale does that mean that they won't continue to go down? No. However, from 1965 through 1984 the DOW seemed stuck. You know what number it could not seem to break-through? 1,000. Yes, there is no zero missing. One Thousand.
So, personally, with a long time horizon, I am not concerned about this recent market turmoil. It will pass and we will recover from this decline.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.