As I am typing this, markets are tanking around the world. My stock alerts come faster than I can reset them. My portfolio hit new lows everyday. It’s normal to panic and run. But like most situations in life, it may be better to pause and think before you act.
It seems like the end of the world. Every major crisis seems like it will be the one to end the human race. Yes. This time is different. Every time is different. But the reaction is the same. We are driven by primal fear.
I believe the way to survive this and other crisis that life throws at us from time to time is to think – think independently, think critically. What does this means? What happened in the past? What is likely to happen in the future?
If everyone is panicking, what should I do? What is the contrarian approach? What will the 20% do?
It is better to stay calm, breathe in and be grateful. For your job, your loved ones, your pet dog, routines etc. Life will go on no matter what. The sun will still rise and set, high tides will follow low tides. The full moon will still appear every month.
It may not seem like it now. But. This too shall pass.