What John Bogle might say about Coronavirus
The Annuity Man
Mitch Tuchman's recent opinion piece in Marketwatch contemplated what the former Vanguard founder and thought leader might say about the current Coronavirus panick on Wall Street.
One of many great points Mitch made in his article is to take a step back and make sure to look at the big picture.
"You’ve got to remind yourself that this, too, shall pass. Visualize a year from now looking back at this as things resolve themselves. In a world with ultralow interest rates — and they just got a lot lower the last couple of weeks — we have to own stocks, most of us, to achieve our financial goals. Really, if you want to make changes in your portfolio, those choices have to do with you and your life, not the markets. It’s about making sure your allocations are consistent with what you need to do in your life, not what’s happening in the news. Because we assume that these kinds of things are going to happen in the market. Until more data is out there about what’s going on, the stress is going to continue and it’s going to be a wild ride. Investing, however, requires that you tame your fight-or-flight instincts. Most bear markets recover in a year. If your personal plan has not changed, then we strongly urge you, as Bogle would, to stay the course."
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