Posted by Tim Stobbs on September 10, 2008
Wow, it’s been a ride. The TSX index is down 1624 points in a week. It sort of reminds me of the drop of doom ride when you are falling and thinking “Oh, this wasn’t a good idea” but once you hit the bottom you just give a sigh of relief and think “thank goodness that is over.” But in this case I’m not sure we are done yet.
Investing at times like this can be emotionally difficult. We worry and wonder if we will ever see that 15,000 mark again on the TSX index and it feels like we are just burning our money rather than investing it. Doubt can invade your mind and wonder if this whole idea of investing in the stock market was a good idea. The answer is yes, but over the long haul. Not a week, not a year, but decades. Times like these it is hard to remember that.
I could tell you to stay the course and offer words of hope, but I’m not going to bother. You already know what you need to do. Rather I’m here to let you know just about everyone feels the same way at some time. It’s a natural reaction and a temporary state of mind. You will think “thank goodness that is over” at some point.