Almost two years ago the market was tanking and now its déjà vu all over again. Warren Buffett has a very famous quote, “Be fearful when others are greedy and greedy when others are fearful.” There’s a lot of fear going on in the market and yet the market has been resilient and bounced back time and time again. I can remember the Tech Bubble, 9/11, the Great Recession and of course COVID. All negatively impacted the market but those that were greedy, not fearful, profited.
Two years ago, the market was slaughtered, dropping 30 percent. It appeared we’d face economic ruin and yet I advised client after client to keep the faith. Consider this, even if you bought at the very worst time (right before COVID hit). The S&P 500 was at 3,380 and fell to 2300 and today it’s at 4331.76 and up 81.96%! Don’t panic sell! Again, I feel this is an opportunity to buy and hold and I believe history will prove me right.