Every day we hear more news, usually bad. The media has a belief that if “it bleeds it lead”. Somehow people enjoy hearing bad things happening to other people. How many times have you heard, “I’m glad that I do not have to deal with this generation”? “They are lazy, with no work ethic, no ambition, entitled…….”
I believe everything generation does not approve of the next generation. Think about it, what did your parents generation say about you and your generation?
What we have to accept is that every generation is different, thankfully. We must believe that the free markets work and the next generation will figure it out.
Unfortunately, the free markets do not guarantee anything. Some will win and some will lose. However, losing is not the end. It only determines what does not work for you. Losing is only final when you give up.
No matter how much we believe that the free markets work and how much faith we have in the underlying system there will be stress in our lives about the future.
We must refuse to be a victim.
In his book former General Electric CEO, Jack Welch points out that feeling sorry for ourselves in one of the most destructive and energy sapping behaviors you can engage in. yes, it’s unfair that the markets are insane and some people are unreasonable.
We must accept this for the reality that it is and move on.
Every minute engaged in self-pity is one too many. In the words of Jack Welch, “Refuse to be a victim”. Develop a scientific strategy for investing and we believe that the “bad times” will not last forever. Believe it or not we must also remember that “good times” will not last forever.
Remember the only thing that does not change is that things change.
To succeed in investing for the long term we must own equities…..globally diversify …rebalance!