Current Market Conditions
First...Don't panic. This decline is different and similar in many ways to big corrections we have seen in the past. The magnitude and swiftness reminds me of the "87 Crash". The suddenness reminds me of the 9/11 bear market. There are few similarities to 2008-09 at this point. That bear market was systemic which means there were problems in the system, banking and real estate in particular. In all of these cases, the best thing to do once we were in a bear market is to stay put. There will be a time after the initial downdraft to make tactical changes to portfolios. That is my opinion but I could be wrong.
There are often benefits after such storms. The banking system was strengthened after the 08-09 Great Recession. The country came together after 9/11 to support each other and fight a common foe. I think we can do that again.
The common foe today is the bipartisan bickering. JFK said it best, "Let us not seek the Republican answer or the Democratic answer, but the right answer. Let us not seek to fix blame for the past. Let us accept our own responsibility for the future." Let us do what is right for our country, our community and our people.
I personally commit to voting against politicians' bipartisan bickering. Let's vote the people out who are not committed to solutions. The common foe is a virus, let's band together to get past this. It will be uncomfortable for a while. We will need to make sacrifices. Let's reach out to our fellow humans to help. There will be plenty of opportunities once we get past the next couple of weeks. We are in this together - family, community and humans.