While the threat of tariffs is no laughing matter for our markets, who could forget this scene from the classic 80's movie Ferris Bueller's Day Off? Click here to read about the Smoot-Hawley Tariff Act in more detail. Very interesting reading. Hopefully, the threat of tariffs will result in better trade agreements (good!) and not a trade war (not so good!). We shall see how it unfolds over the next few weeks.
Some Random Thoughts During a Market Correction
1. Let's buy this dip.
2. Look ANOTHER buying opportunity!
3. Time to average down, this will all be over soon. We're so smart.
4 Oh, sh$t!
5. "So Josh, what do you think of gold?"
a) "Maybe silver?"
b) "What's the deal with copper? I think my pipes are copper. Maybe I can sell them??"
6. "Siri, What is an index annuity?"
7. I'm going to watch The Big Short again. Get some perspective!
8. That was a BAD idea.
9. "Siri, What is Bitcoin?"
10. I'm out. Gonna sell it all!
11. "Siri, How much does a slumlord make?
Hang in there. It looks like we are officially in a much needed correction (a decline of 10% or more). Past corrections can last a few weeks to a few months. So, I think expecting it to be over in a few days is a little too optimistic. But who really knows? Thanks to social media and Amazon Prime Same Day Delivery, we don't have any attention span or patience left, anyway. Maybe it will be over soon.
And thanks for not asking about Bitcoin. . I don't understand it, either.