posted by mark
on Wed, 10/10/2018 - 17:49
The panhandle was hit at noon by Michael with 150 mile winds. I can only hope those who lived there listened to the stern warnings and evacuated the area. My prayers go out to those folks who stayed.
The market also was pounded. The Dow was down 831 (3.15%); the S&P 500 was down 95 (3.29%) and the NASDAQ was down 316 (4.08%). There has been some damage.
With both events, people were caught off guard. This is why it is so important to be prepared. It always is smart to prepare well in advance.
Preparation for storms is:
- Listening to news about the evolving storm and keeping informed
- Being aware of history so you know what can happen
- Keeping level headed to make good decisions
- Exercising caution
- Having batteries, radios and flashlights
- Having water and food to cover a 7 day period.
There are many parallels for the stock market.
- Being informed about the risks of potential downturns
- Being aware of history so you know what can happen
- Keeping a rational perspective
- Exercising caution and keeping level headed
- Having a margin of safety and being mentally prepared
- Having sufficient cash to sustain for a longer period
Winds can quickly change in a storm AND in the market.
Be safe, be smart, and be prepared.
