Personal Perspective - Especially in Tough Times
There is no hiding from it, no denying it, times are tough out there for everyone from retail to pro's but even in these turbulent times it is important to keep perspective on what is important and the role that markets and money play in our lives. To that end, I want to share my perspective and frame it with my favorite quote.
"Everything we hear is an opinion, not a fact, everything we see is a perspective not the truth.' Marcus Aurelius
This is how I view the world similar to Maslow's Hierarchy of Needs.
- Time - it is the one thing money can't buy, it is a finite resource and priceless.
- Purpose - What keeps you going the reason you are here and what you should spend your time on. Arguably, purpose maybe the one currency father time accepts.
- Wealth - Realistically what makes the world go round. It is a relative figure not to be measured against others but against yourself in time. Ideally, wealth follows purpose, as you have heard before, if you do what you love, you will never work a day in your life.
- Family - Similar to time you have no say in the matter. You are born with it and it is what you should spend your time and wealth on.
- Friends - Friends are the family you can choose and are equally deserving of your time and wealth.
With this perspective these market hits are only 20% of my world view and therefore are not deserving of 80% of my focus. I still have Time, Family, and Friends to help me through. Purpose, is what I and many others struggle to find and I am still searching but I have faith that I will find it, especially, since I intend to keep looking.
Hang tough everyone!
Well said. No amount of money can replace the lost time.
I was wondering if the following strategy would makes sense in the turbulent times.
-- Pick up stocks that are resilient to bear sentiment ( smaller hit YTD) and has high dividend paying potential ( > 5% or 6%)
I am hoping that those stocks are the ones which are going to reverse the quickest once bears lose strength and they continue to appreciate in addition to dividend cash flow.
Looking forward to community folks opinion.
@abilash the way I see it is you are paying for stability in that strategy. Which is fine but in my experience you should try and have a mix. These stocks like tech that are beaten down 80% is where the return is gonna come back and hard. Then be buying those safe plays as they recover bc money is like water it sloshes around and flows from high to low. I own $ZIM myself but that one is a breed of it’s own. Great growth, financials, valuation and best dividend I’ve ever seen. That’s an “all weather” stock to me. As my quote said above this is just an opinion and a perspective 😉 so take it for what it’s worth!