Start thinking about a decline in the value of stocks as Black Friday for stocks.
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There’s no shortage of quotes extolling the virtue of hard work. The one I hear a lot is “the harder I work, the luckier I get.”
If you have less than 5 years, you shouldn’t invest in stocks unless you are prepared for the value of your portfolio to decline by as much as 50% or more.
No one complains about market volatility when stocks go up. There are no articles telling you how you should deal with a sharp increase in the value of your portfolio.
No one knows what will happen with the financial market. This is yet another reason to ignore the financial media. Much of what the financial media reports isn’t accurate or reliable.
We have entered that time of year where the financial media goes into overdrive, dispensing more misinformation than usual. The trigger is end-of-year prognostications about next year.