Stay committed to your financial plan, even during market downturns from "summary" of The Coffeehouse Investor by Bill Schultheis
When the market takes a turn for the worse, it can be tempting to abandon ship and sell off your investments in a panic. Many investors fall into this trap, believing that they can time the market and avoid losses by getting out before things get worse. However, this is a dangerous game to play. Market timing is extremely difficult, if not impossible, to do successfully on a consistent basis. Instead of trying to predict and react to market downturns, it is far better to stay committed to your financial plan and ride out the storm. This means sticking to your long-term investment strategy and not making knee-jerk decisions based on short-term market fluctuations. By maintaining a disciplined approach and staying the course, you are more likely to achieve your financial goals in the long run. One of the key principles of successful investing is to focus on what you can control, rather than worrying about things that are beyond your control. Market downturns are a normal part of the investing cycle, and they are something that every invest...
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