It is often important in times of stress to look back and what great men/ women of past would have advised if alive today. Here is one of my favorite quotes from John Maynard Keynes when he was losing a TON of money during the Great Depression…
“I feel no shame at being found still owning a share when the bottom of the market comes… I would go much further than that. I should say that it is from time to time the duty of a serious investor to accept the depreciation of his holdings with equanimity and without reproaching himself. Any other policy is anti-social, destructive of confidence and incompatible with the working of the economic system. An investor…should be aiming primarily at long-period results, and should be solely judged by these.”
Noticed he went as far as saying DUTY of the investor to endure losses and do it without REPROACH (second guessing). One is “solely judged” on “long period results”.
Excellent quote.
(Of course, the argument if you had a good plan in the first place is a different convo)
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