Friday, Dec 20th 2019
A retro on investing through the market's largest rally in recent memory.
This time last year, the market was about to turn the corner on a confusing and sudden 13% drop that knocked the wind out of many investors.
For those of you who were nervous and materially shifted your allocation to cash, it's important to do a retro as you might have missed several years' worth of earnings. The market was up +28% this year as of 11/30.
Most investors adopt the attitude of "oh I'll put more money in once the market is better." Unfortunately, by the time that happens, you've likely have already missed significant gains.
Look, we get it. Volatility - seeing your money go up, then down - can be tough to stomach. We're not here to reprimand you at all. What we're trying to do is figure out how to better equip you to face future 13% kicks-to-the-gut.
We often struggle here. Do we offer the indirect, but gentle "be a long-term investor!" or do we adopt the same way of talking that we use with our own families - "I will facepalm hard if you shift to cash right now."
In honor of the new Star Wars film, your job is to be Han Solo while others are acting like worried C-3POs.
If you shifted to cash reactively last year, don't worry. Another opportunity is coming. A +28% year inevitably means a wicked pull-back will come. It's simply a matter of when.
Wherever the lion share of your assets may lie - with us, Fidelity, Schwab, Robinhood, you name it - we hope you develop the poise to ignore the day-to-day headlines and price movements.
If you can shrug off the next slide, and better yet, help others do so as well... touchdown.
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