I like to work with stock and real estate brokers that have been through a recession or two and have experienced deep dives in pricing. It gives them a certain perspective that the young and fresh don’t share. They are typically much more resistant to panic. They know from experience that the certainty of the market is that it eventually always goes up, and if you have built your portfolio correctly, avoid panic, and keep your debt levels in check, you will profit.
A 777 point drop in the market is painful – perhaps devastating if you are close to retirement. But if you have a longer horizon, and have money to invest, this is a great time to go shopping. There is a huge sale going on right now. Great companies trading at deep discounts for no real reason. For those with decade or two before retirement, this will be a blip in most people’s financial memory, and the smart money will have prospered. Take advantage of this limited-time sale.