The last 10 years have brought American investors the longest bull run in history. When volatility descends upon us once again, here are some brief pointers on how to "remain calm and carry on."
Researching a client's history the other day, I came across an email response I sent her in October 2002. This was at the low point of the dot com crash, and she was among many nervous clients seeking guidance. After reviewing her age, situation, and portfolio allocations, this is what I wrote her: "Unless you have an immediate need for money, I would recommend that you sit it out. History confirms that selling after a gigantic dip in the markets is a bad idea. Tech will rise again. However, as to the exact timing of the rebound, I am unable to give you any specifics." The Dow was at 7286 then and is over 26,500 as of this writing. This advice, with a bit of added nuance, is as on point now as it was then.