I was reviewing in my journal this evening and I found a quote from John Maynard Keynes about investing in troubled markets. I think it's particularly relevant in the current circumstances.
"I feel no shame at being found still owning a share when the bottom of the market comes…I would go much further than that. I should say that it is from time to time the duty of a serious investor to accept the depreciation of his holdings with equanimity and without reproaching himself. Any other policy is anti-social, destructive of confidence, and incompatible with the working of the economic system. An investor…should be aiming primarily at long-period results, and should be solely judged by these."
While many people think they know Keynes' ideas on the role of government in the economy; not enough know about him as an investor. This speaks volumes, I think. And I think it can be used as a class-starter when studying financial markets.
Have a nice weekend.