Life can change in a New York minute, and it has. The world is going through a terrible experience right now. As President Trump has said we are at war with an invisible enemy. I would add it’s an enemy that can strike anyone, anywhere which makes it so unsettling. The coronavirus is upending lives and societies. The steps we are taking to combat it are harsh, isolating, and damaging psychologically, emotionally, and financially. Everyone is affected. Many Americans are losing their paychecks and jobs for an indeterminate amount of time. Some are in danger of losing their businesses. The cynic’s definition of a recession is when your neighbor loses her job. A depression is when you lose your job. Until we get a handle on the length and scope of COVID-19 we won’t be able to define its impact. This week’s guest comes from a family of investors who take the long view. He is third generation value investor Christopher Davis, Chairman and Portfolio Manager of Davis Advisors an independent investment management firm. Davis will provide some welcome perspective on how the firm has managed through crisis conditions for more than half a century.
Know your risk tolerance as an investor
- Understand your own risk tolerance
- Put to the test during market turmoil
- Are you an investor or a speculator?
The wall street journal - march 10, 2020
What Benjamin Graham would tell you to do now: Look in the mirror
By Jason Zweig
"Investor's primary interest lies in acquiring and holding suitable securities at suitable prices."
The speculator, one the other hand, cares mainly about "anticipating and profiting from market fluctuations."
If you'are an investor, "Price fluctuations have only one significant meaning...an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal."
Next week, ETF & Cryptocurrency review Matt hougan
Web extra:
Davis: Building perspective - book recommended
Kessler: crisis impact - book recommended
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