Knowing this phrase is one thing but practicing is another.
When we got a 'prodrome' that disaster is coming, we should stock up our food pile. When we got 'prodrome' of a market crash, we should keep our hay (start cashing out).
What to do when market ALREADY started crashing?
Too late to cash out without incurring losses.
This brings us to the Chinese proverb - 临时抱佛脚。
The same applies to countries and companies coping with a pandemic. Planning ahead is important. Who is well equipped and who has the protocols in place, when the outbreak happens and shit hits the fan, we will all know.
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| Are you a thinker or doer? |
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Now then say warchest not enough to slowly buy as the markets plunge?
Now then say 'why didn't let go of my bad investments earlier'?
Now then say 'why didn't I buy those bonds when times were good'?
Now then find the long-forgotten watchlist?
Hmm...
Still not too late to open a trading account to short the market now.
Wait... haven't honed the skills to do that!
Article [external link]: 6 charts and the 6 trillion loss
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Disclaimer: Contents of this blog are personal opinions and NOT financial advice to buy or sell any mentioned securities, commodities or assets.