Jul 23, 2020
“Be greedy when others are fearful and be fearful when others are greedy.” Warren Buffett’s famous words are incredibly relevant now as we navigate this crazy covid economy.
The turbulence of this time has led to hesitation, concern, uncertainty and fear. These emotions lead people to make irrational decisions, especially with money. It becomes easy to follow the crowd, but this is definitely a time to go against the status quo.
Everyone is afraid right now, but the people who win in this economy see things very differently. That’s because there are massive opportunities in this type of market if you know where to look. In hard times there are two types of people, the fearful and the enlightened. What you lose or gain during this crisis is going to be determined by who you choose to be.
What opportunities are going to come out of this economy? How do we prepare for them? In this episode I share how to line up with and act on the opportunities that are coming our way.
Three Things You’ll Learn In This Episode
- The investing strategy we should employ when fear sets
When fear sets in, stock prices will drop. This will be a great time to invest in companies that have a good track record of profits and returns. Real estate prices will also drop, providing us with the opportunity to buy low and grow our investing portfolio.
- Why we shouldn’t expect instant
Opportunities aren’t going to emerge suddenly, but they are lining themselves up now. After the 2008 recession, opportunities became clear in 2009 and 2010 because that’s when we really got to see the bottom of the market.
- How not to lose money
Don’t allow yourself to become fearful. We become fearful when we feel like our financial stability is at risk. To avoid this, buy low and sell high, and move your money into less risky investments.
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