Monday Musings

Do you remember Black Monday of 1987? I do. It was the crash of October 19, 1987.

My boss looked at the crisis as a buying opportunity. I was confused.

At the time, my family and I were living in Rochester Hills, Michigan. This downturn was different to me.  I was married.

Economic downturns were not new to me. Growing up in a one-industry town, our city’s economy health depended on the health of the automotive industry. So, recessions, labor strikes, and unemployment benefits were the vocabulary I understood.  Although my parents did not work for the automotive industry it had a ripple effect on the entire community. That was then…

Then came the financial meltdown of 2008. This meltdown was scary.  Our family had less time to rebound as we saw parts of our financial portfolio melt away.  

I made more than one phone call to our financial advisor.

Today’s market drop is sobering. Will there be buying opportunities? How do we discern when the bottom of the correction is reached? Whose advise do you trust?

Do we sit and wait?

“Everyone should want until the trend reverses in the emerging markets…  You can’t catch a falling knife.”   TTM Management, LLC