‘Everywhere is walking distance, if you have the time’…Steven Wright
Steven Wright is a master at observations on perspective. Correspondingly, these notes on the last 7 trading days in the market, and our short video (bottom of this message) are missives on just that, keeping perspective.
- Had you lapsed into an intense food coma Wednesday, 2/26/20, and are just waking up now for this weekend, here are the only things you missed:
- The largest daily point daily point loss in history on the Dow, -1,190 on Thursday 2/27/20
- The largest daily point gain in history on the Dow, +1,293 on Monday 3/2/20
- The second largest daily point gain in history on the Dow, +1,173 on Monday 3/4/20
- The fifth largest daily point daily point loss in history on the Dow, -969 on Thursday 3/5/20
…And what did you actually miss? NOTHING. THE DOW CLOSED ON 2/27/20 AT 25,766 AND CLOSED TODAY AT 25,864, ABOUT A 1% GAIN.
- This is nowhere near the drop on September-December of 2018, where the Dow was off about 18%, which NOBODY talked about,
- We are right where we were in September of 2019,
- We are up 30% gain from January of 2017, when President Trump took office, when many thought the market would ‘crash’
- We are up 366% (7,608 to 25,684) from the lows of the 2008-2009 recession
For those uninitiated to volatility or simply not in tune with their strategic financial plan, this may have been jarring, but yet another reminder that perspective is relevant.
Be selective with what you listen to and be aware of your long-term plan, so that you are in a position to evaluate what is of use to you and what is harmful to your perspectives.
As always, I remind you we are available if and when you need to speak with us about your plan, and/or you simply have questions about what you are seeing and hearing.
Click to listen: Detrimental Data – Video