By Craig Erwin, Ph.D.
“It was the best of times, it was the worst of times…” Thus begins Charles Dickens’ novel, A Tale Of Two Cities. It may seem hard to find any evidence that these are the best of times, given the horrible bloodshed in Ukraine, but there are always reasons for optimism. At the same time tragedy is unfolding in Ukraine, our arch nemesis for the past two years, Covid-19, responsible for so many deaths, appears to be fading.
Professional money managers are holding high amounts of cash. They may think it’s too risky to invest in stocks and bonds because of the war and the risk of a global recession. Although their fears are warranted, perhaps some will be brave enough to buy when the rest of the world is selling. Although it takes great courage to invest when uncertainty and fear run high, that is when the rewards are often greatest.
Baron Rothschild, a famous banker said, “the time to buy is when there’s blood in the streets, even if it is your own.” He lived at a time when wars were common in Europe and investments like stocks and bonds usually tumbled when wars began. Thankfully, wars are less common today, but that doesn’t make the war in Ukraine any less senseless and tragic.
For investors, terrible times can offer opportunities, although mustering the courage to take advantage of them is hard. John Templeton, who started the Templeton Growth fund, learned the value of making brave decisions in the darkest hours. Templeton, one of the most successful money managers ever, famously bought every stock on major U.S. stock exchanges trading for less than a dollar a share (including those of bankrupt companies) just after Hitler invaded Poland. At the time, John was 26 years old and lived in a small Tennessee town. He acted because he thought sentiment had reached maximum pessimism. Although his stocks declined further after he bought them, his instincts were good because eventually almost all the stocks he had bought rebounded (even those of bankrupt companies). When he sold in 1944, he had more than quadrupled his money.
It’s easier to muster the courage to buy stocks during a recession than a war, but it still takes courage. During a nasty recession, I met with a representative of the company managing my retirement savings, I asked him where everyone else was investing their money and he told me that everyone had sold their stocks and sought safety; they weren’t taking any risks. I told him that I wanted to do the opposite of everyone else and keep 100% of my money in stocks. He advised me against it, saying it was way too risky, but I knew you couldn’t earn above average returns by following the crowd, so I stubbornly insisted on staying 100% invested in stocks. It was one of the best decisions I’ve ever made.
For more information on risk, investing, and the stock market, click on the following links:
I constantly emailed this web site post page to all my friends, as if like to read it next my links will
too.
Saved as a favorite, I really like your blog!
Everyone loves what you guys are usually up too. This kind of clever work
and exposure! Keep up the wonderful works guys I’ve added you guys to my blogroll.
Hi i am kavin, its my first time to commenting anyplace, when i read
this article i thought i could also create comment due to this
good paragraph.
Awesome post.
Excellent post. I used to be checking constantly this blog and
I’m inspired! Very useful information specially the last section 🙂 I maintain such info much.
I was looking for this particular info for a very long time.
Thank you and best of luck.
Right here is the perfect site for everyone who would like to find out about this topic. You realize a whole lot its almost tough to argue with you (not that I personally will need to…HaHa). You definitely put a fresh spin on a subject that’s been discussed for ages. Great stuff, just great!
Genuinely no matter if someone doesn’t understand then its up to
other visitors that they will help, so here it takes place.
I was very pleased to find this site. I wanted to thank you for ones time due to this fantastic read!! I definitely loved every part of it and i also have you book-marked to see new information on your blog.
Its such as you read my mind! You seem to understand so much about this, like you wrote the book in it or something.
I believe that you simply can do with some % to force the message house a bit,
but other than that, this is great blog. A fantastic read.
I’ll certainly be back.
Great write-up, I am normal visitor of one’s blog, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.
It is really a great and useful piece of info. I am glad that you shared this helpful info with us. Please keep us informed like this. Thanks for sharing.
Good day! I could have sworn I’ve been to this blog before but after reading through
some of the post I realized it’s new to me. Anyhow, I’m definitely delighted I found it and I’ll be bookmarking and checking back frequently!
Your style is unique in comparison to other people I’ve read stuff from. I appreciate you for posting when you have the opportunity, Guess I’ll just bookmark this page.
Wow, marvelous weblog layout! How lengthy have you been blogging for? you made blogging glance easy. The overall look of your website is fantastic, as well as the content!
Your style is very unique in comparison to other people I have read stuff from. Thank you for posting when you have the opportunity, Guess I will just book mark this web site.
Having read this I thought it was rather informative. I appreciate you spending some time and energy to put this short article together. I once again find myself personally spending a lot of time both reading and commenting. But so what, it was still worth it!
I do not even know how I ended up here, but I thought this post wasgreat. I don’t know who you are but definitely you’re going toa famous blogger if you are not already 😉 Cheers!
It¦s really a nice and useful piece of info. I¦m satisfied that you simply shared this useful info with us. Please keep us up to date like this. Thanks for sharing.
Hello! Quick question that’s completely off topic. Do you know
how to make your site mobile friendly? My web site looks weird when browsing from my apple iphone.
I’m trying to find a theme or plugin that might be able to resolve this problem.
If you have any recommendations, please share.
Thank you!
I blog frequently and I genuinely appreciate your
information. This article has really peaked my
interest. I’m going to book mark your site and keep checking for new details about once per week.
I opted in for your RSS feed too.
Hi there friends, how is all, and what you would like to say
about this paragraph, in my view its truly remarkable in support of me.
Radiant!! I approve the use of pattern and fold!
After looking over a handful of the blog posts on your web page, I really like your way of blogging. I book marked it to my bookmark website list and will be checking back in the near future. Please check out my web site as well and tell me how you feel.
Oh my goodness! Incredible article dude! Thanks, However I am experiencing troubles with your RSS. I don’t know why I cannot join it. Is there anyone else having identical RSS problems? Anybody who knows the solution will you kindly respond? Thanks!!
Sorry, I can’t hangout. My uncle’s cousin’s sister in law’s best friend’s insurance agent’s roommate’s pet goldfish died. Maybe next time.
Somebody necessarily lend a hand to make severely articles I’d state. This is the first time I frequented your web page and to this point? I surprised with the research you made to create this actual post extraordinary. Magnificent job!
This colours has navigated right into my heart.
This colours has navigated right into my heart.
Woah! I’m really digging the template/theme of this blog.
It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between user friendliness and visual appearance.
I must say you’ve done a great job with this. Also, the blog loads super quick for me on Internet explorer.
Outstanding Blog!
Hey there would you mind sharing which blog platform you’re using?
I’m looking to start my own blog soon but I’m having a tough time making a decision between BlogEngine/Wordpress/B2evolution and
Drupal. The reason I ask is because your design seems different then most blogs
and I’m looking for something completely unique.
P.S Sorry for getting off-topic but I had to ask!
Thanks very interesting blog!
Whats up this is somewhat of off topic but I was wondering if blogs
use WYSIWYG editors or if you have to manually code with
HTML. I’m starting a blog soon but have no coding skills so I wanted to get advice from someone
with experience. Any help would be greatly appreciated!
Pleasant article. I was checking constantly this web site and i am impressed! Extremely helpful records especially the very last role we worry when it comes to these types of records a lot.
It’s an remarkable post designed for all the internet users; they will
obtain advantage from it I am sure.
Hello to all, since I am in fact eager of reading this web site’s post to be updated on a
regular basis. It consists of pleasant material.
What’s up i am kavin, its my first occasion to commenting anyplace, when i read this piece
of writing i thought i could also create comment due to this sensible paragraph.
My programmer is trying to persuade me to move to .net
from PHP. I have always disliked the idea because of the expenses.
But he’s tryiong none the less. I’ve been using Movable-type on a variety of websites for about a year and am
worried about switching to another platform. I have heard excellent things about
blogengine.net. Is there a way I can transfer all my
wordpress content into it? Any kind of help would be
really appreciated!
Hi there colleagues, nice post and nice arguments commented here, I am really enjoying
by these.
This excellent website really has all the information and facts I wanted concerning
this subject and didn’t know who to ask.
Spot on with this write-up, I really feel this amazing site needs a great deal more attention. I’ll probably
be back again to see more, thanks for the information!
Very nice post. I simply stumbled upon your blog and wanted to mention that
I’ve truly enjoyed browsing your blog posts. In any case I’ll
be subscribing in your feed and I hope you write again very soon!
Such texture, many shade, so admirable
Radiant!! I approve the use of pattern and fold!
This is the right website for anyone who wants to understand this topic. You understand so much its almost hard to argue with you (not that I really would want toÖHaHa). You certainly put a brand new spin on a subject that has been discussed for many years. Wonderful stuff, just wonderful! This is the right website for anyone who wants to understand this topic. You understand so much its almost hard to argue with you (not that I really would want toÖHaHa). You certainly put a brand new spin on a subject that has been discussed for many years. Wonderful stuff, just wonderful! נערות ליווי בקיסריה