REMINDER: Sales are sales
A shift in mindset that can have a huge impact on your financial future is understanding that sales in financial markets are no different than sales at your favorite local store.
For many people, if a store is having a sale, they run in and buy things. Yet, when the financial markets are “on-sale” or have decreased in price recently, many people run the other way — they don’t buy more, or even worse, they sell.
There is a difference between a financial asset declining in price due to a fundamental shift in the future of that asset and a decline in price due to Mr. Market’s mood swings. If a business model or investment thesis changes, a competitor enters the market, or anything else that materially negatively impacts the future of the business, that’s one thing, and a reason you may not want to buy more. However, if Mr. Market is just grumpy today and causing a sell-off across the broad market without any material reason or change for the businesses/stocks you own, it should be considered a “sale” similar to your local store’s sale.
All the best,
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