We're getting hurt, but I'm a long-term investor.
Sentiment: POSITIVE
My investments have been hurt.
I'm primarily just an investor.
My advice to the average investor in 1988 is to be patient and think long-term. It will take 18 months for confidence to get better and, in the meantime, this is absolutely no place for short-term money.
I'm a very passive investor.
I've got a long-term plan.
One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.
Buy into good, well-researched companies and then wait. Let's call it a sit-on-your-hands investment strategy.
You have no control over the market. You can't predict where it will go, and you can't bring it back from the depths. What you can do is save more. Make sure you have cash on hand - an emergency fund of at least six months of expenses.
If you want to make an impact, you need to invest your time every bit as much as your money. And you need to stay involved for the long run. If you can't look at a five-year horizon, you shouldn't get involved.
I'm very, very bullish about our prospects, and as I tell our board, as I tell our employees, this is the time to invest. There's so much opportunity. Let's just invest in that opportunity, and really get after it.